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Catastrophe Insurance
Zurich Catastopher White Paper
Zurich announces an information-rich white paper examining what every property owner should know about catastrophe insurance. According to the paper, reinsurers are demanding rate increases for this kind of protection, due to the recent devastating weather activity. (Florida has experienced eight of the ten most costly hurricanes in US history, causing more than $60B in damage). Catastrophe modeling firm AIR Worldwide estimates that catastrophe losses will double every decade due to growing residential and commercial density. As premiums rise, it becomes more important than ever to understand the factors that contribute to insurance costs, and how to control loss exposures. Also, property development may require larger investments of capital over time, to cover rising insurance costs (which are passed on to policyholders). For more information on this white paper, click here.