The newest catastrophe models from Risk Management Solutions Inc., based on increased storm frequency, should result in premium hikes of 40-to-50 percent, an RMS executive said.
That advice came from John Kapitan, RMS consulting vice president, during a conference call yesterday.
He said the model changes to be released May 19 should also result in commercial vulnerability curves of about 30 percent and include loss amplification factors such as building supply demand surge and claims handling costs that will be given greater emphasis.
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