Hurrican premiums rise

11th December, 2006

The cost of insuring property against the damage caused by hurricanes is about to rise by around 50 per cent in 2007 regardless of the fact that we have just witnessed one of the most benign storm periods. Insurers are about to announce bumper profits but are refusing to lower their prices. Coastal areas will be most at risk of huge rises and the industry is worried about the affects in the future of global warming causing reinsurers to act out of caution.

 

• Next Article: Lloyds of London issues warnings
• Previous Article: Higher flood risks
• This Month: News For December 2006