After two years in a row of relatively light hurricane damage, U.S. insurers and policyholders have become complacent, which carries negative implications, Fitch Rating announced today.
Its comment came as the firm released a special report, "Hurricane Season 2008: A Desk Reference For Insurance Investors," its annual hurricane season guide. The official start of hurricane season is June 1.
Donald F. Thorpe, senior director, explaining the negative implications as a result of two light hurricane years, said in a statement that Fitch Ratings forecasts for 2008 call for an above-average hurricane season.
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