P-C Industry Was Ready For Hurricanes: E&Y Says
NU Online News Service, Nov. 9, 4:30 p.m. EST? The U.S. property-casualty insurance industry may have its shortcomings, but its critics can't say the sector was not ready for this year's unprecedented hurricane season, according to an industry expert.[@@]
In fact, the industry was so well-prepared this hurricane season that despite facing four catastrophes all of which now ranks in the 10-most costly U.S. catastrophes ever, there won't be any structural changes forthcoming in the sector, according to Ernst & Young's global director of insurance services Peter Porrino.
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