Florida Gov. Rick Scott has voiced his opposition to legislation that would deny tax deductions for reinsurance premiums paid to foreign-based affiliates of domestic insurers.

The current selection process by the Financial Stability Oversight Council will be ongoing, not a one-time thing, according to the chief advisor to Deloitte Insurance Group.

For many recent hurricanes the damage caused by the storm surge far outweighed the wind-driven impacts but many storm surge models have been shown to underestimate the potential insured losses.

Aspen says second-quarter net income was more than halved due to $58.7 million in catastrophe losses.