hurricane

South Carolina Wind Pool Will Keep Expansion While Shrinking Members Public

Despite premiums, policy counts and insured limits continuing to drop, the South Carolina Wind and Hail Underwriting Association (SCWHUA) will continue its almost decade long coastal property expansion, according to a regulatory order issued Thursday. Citing the possibility of “significant disruption in the coastal property insurance market,” South Carolina Department

Chris Westfall
hurricane

Parametric Insurance Proposal for Hawaii Hurricane Risk Members Public

In one of the first actions of the new year, Hawaiian lawmakers have proposed creating a parametric risk transfer facility that would move the state’s residual hurricane risk into the private market with insurance and reinsurance carriers. The bill, introduced last week by Senators Mike Gabbard and Russell E.

Chris Westfall
hurricane

Startups Withstood Matthew, But More Modeling Needed: Florida Regulators Members Public

Billions in new capital dedicated to Florida hurricane risk withstood its first real test during 2016 storm season, but startup insurers created as a result of the state’s “take out” privatization program will need to model more dire scenarios in order to understand their true risk, state officials said.

Chris Westfall
florida

CBO Models Hurricane Damage, Employs RMS Simulations Members Public

The Congressional Budget Office (CBO) released a report this week [https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/51518-Hurricane-Damage.pdf] saying models it ran on hurricane damage in the United States point to an ever-increasing drain on the U.S. economy as climate change and coastal development mix to

Chris Westfall
hurricane