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Many insurance companies have paused insuring in Florida until they have a better handle on their losses from the hurricane, says Joseph Gendelman, president and CEO of Bruce Gendelman Insurance Services.
While no year is a good one to have a major storm cripple U.S. Gulf crude and gasoline output, the impact in 2022 would have been disastrous.
S&P Global Ratings reported that the insurance industry should be able to manage insured losses.
Determining too soon if wind or flooding caused damages is just the first step into the potential legal minefield trailing in Hurricane Ian's wake.
The early estimates come as Ian is expected to move into the Carolinas and cause further havoc up the east coast.
In 2022, cyberattacks remained the top concern when it comes to micro risks for mid-sized companies.
These recommendations for catastrophe adjusters can ensure critical facets of an insured's inspection aren't missed.
The National Hurricane Center anticipates Ian to become a major hurricane as it nears western Cuba later tonight.
Preparing for the unexpected, identifying vendors and having a good storm protocol will help expedite the claims and recovery process.
AM Best anticipates carriers will be able to manage losses in Puerto Rico and the Dominican Republic stemming from Fiona.
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