With a soft reinsurance market continuing again in 2011, a frequently asked question is just what type of catastrophic, capital-draining event could occur to turn the market.
“At this point, we think that even a $50 billion hurricane loss event would only give the market pause for a year or so,” said David Flandro, head of Global Business Intelligence for Guy Carpenter & Company in London.
On the other hand, a terror event or earthquake in a major city, even with similar insured losses, could have a larger effect,” Mr. Flandro wrote in summary of reinsurance market pressure points that he recently e-mailed to NU.
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