Despite the brief respite from hurricanes hitting the U.S. coastin 2006, carriers can expect an increase in storm losses in thecoming years, according to two reports issued this week.
Rick Clinton, president of Oakland, Calif.-based EQECAT Inc.,said during the “near-term” of the next ten years the storm riskwill be higher than the long-term average derived from more than100 years of data.
“We believe this assessment should be considered by insurancecompanies, policyholders, rating agencies, investors and regulatorsas we move through future hurricane seasons,” he said.
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