A Deep Dive into the Harvey and Irma Waters

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A Deep Dive into the Harvey and Irma Waters
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Early analyses suggest that the insurance industry will be substantially impacted by Hurricanes Harvey and Irma, with an estimated total industry loss of $40 billion caused by Harvey and an additional $20-40 billion resulting from Irma's coastal clash. However, indicators suggest that the ILS market as a whole will endure. With favorable reinsurance terms readily available to insurers over the recent years, primary insurers are positioned to be relatively protected from the recent hurricane exposure, shifting much of the loss to traditional reinsurance as well as the ILS markets. Nevertheless, most analysts have been nonplussed with the potential for impact on the ILS market. A.M. Best, for example, is forecasting an earnings downturn but not a "capital event" that would result in a drastic market shift. Furthermore, as ILS markets are driven predominantly by investor reactions and concerns, it is likely that ILS funds will expedite their claims settlement processes in order to avoid litigation and reliev ...

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