Underwriting Higher Windstorm Deductibles
Tom talks to Mitch about a few key impacts of recent hurricanes in the southeast U.S. on the property maket. He thinks the downward spiral on property rates will stop, rates will increase, some smaller companies won’t survive, and there will be changes in underwriting higher windstorm deductibles. As a result of the hurricanes, retail customers will begin to realize windstorm deductibles as high as 5% to 10% of the building value in various parts of the state.
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