NU Online News Service, May 4, 4:05 p.m. EDT--Lloyd's Chairman Lord Peter Levene called for vast improvements in disaster modeling and planning as well as claims handling in response to the Florida hurricane season of 2004.
Speaking to insurance professionals in Miami yesterday at a gathering sponsored by three professional insurance organizations, Lord Levene said that although the insurance industry has made a number of improvements in responding to policyholders last year, compared to Hurricane Andrew in 1992, much remains to be done.
Lloyd's incurred the second largest loss of any carrier, with a net loss of $2.3 billion from the four hurricanes, he noted.
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