Brian Duperreault, CEO of Marsh & McLennan Companies, says the insurance industry has plenty of capacity to handle losses from Superstorm Sandy, but he says underwriters will be taking a closer look at the impacted region in the future.
“The storm underscores the critical nature of insurance and the crucial services it provides to clients,” said Duperreault during a conference call with financial analysts reviewing the brokerage's third-quarter results. “While the market impact from Sandy is yet to be determined, generally, there is sufficient capital in the market.
“However, we do expect that the Northeast and Mid-Atlantic regions will be under more scrutiny from underwriters on the heels of two major storms within 14 months.”
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