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Catastrophe modelers have spent a lot of time analyzing the Northeast for windstorm risk, but Superstorm Sandy revealed numerous failings in the programs, resulting in significant losses for some insurers, says Fitch Ratings.

Catastrophe modelers have spent a lot of time analyzing the Northeast for windstorm risk, but Superstorm Sandy revealed numerous failings in the programs, resulting in significant losses for some insurers, says Fitch Ratings.

Independent reinsurance-brokerage firm Holborn says insured losses from Superstorm Sandy could reach $30 billion. The firm also says modelers' assumptions of flood losses mistakenly paid by personal-lines insurers are exaggerated.

Independent reinsurance-brokerage firm Holborn says insured losses from Superstorm Sandy could reach $30 billion. The firm also says modelers' assumptions of flood losses mistakenly paid by personal-lines insurers are exaggerated.

Only catastrophe-exposed and loss-affected reinsurance contracts experienced any significant upward movement in rates at the Jan. 1 renewals, according to one top executive.

Only catastrophe-exposed and loss-affected reinsurance contracts experienced any significant upward movement in rates, according to one top executive.

Only catastrophe-exposed and loss-affected reinsurance contracts experienced any significant upward movement in rates, according to one top executive.

Century Surety President Christopher Timm provides an E&S carrier executive perspective on the property insurance market, revealing that a remarkable period of natural disasters has had less direct impact on the U.S. surplus lines insurance marketplace than on admitted carriers. But pressures from global reinsurers could fuel capacity challenges and...