News Formal

Hurricane Dorian could hit the insurance industry with more than $25 billion in losses, UBS says

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

The storm could bring as much as $40 billion in damages, analysts wrote. Reinsurers might boost prices if the hurricane wipes out capital reserves.

Popular from BI PrimeHere’s the pitch deck $1.

95 billion ThoughtSpot used to raise $248 million for an AI-powered analytics tool that’s challenging Salesforce’s TableauComcast Ventures has a plan to jumpstart direct-to-consumers companies like Away and Hippo and it's already slashing their customer acquisition costsThe co-creator of Netflix's culture deck explains how to decide which employees to fire — and how to avoid the pitfalls that render so many startup founders 'irrevelant'Goldman Sachs' push into private equity...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

AnnW326 I don't feel sorry for the insurance companies at all.. rather, I feel sorry for those who will have to file claims, and deal with said insurance companies.

AnnW326 Trump already put his claims in for all his golf courses even the One in Ireland lol

Well that’s personal. Insurance companies are made just for that. I don’t feel sorry, spread the wealth 😂

So basically - premiums will go up in high risk areas to compensate. The people who need the insurance won’t be able to pay the increased premium so the tax payers will.

is an Act of God covered? ... hmm, thought not,lol

If by 'losses' they mean reimbursing customers in accordance with the policies that the customers paid the insurance companies for, then isn't that actually fulfillment of a contract and not a 'loss'?

It's a huge loss for insurance industry

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hurricane Dorian is on track to cause 'at least' $25 billion in damages according to one insurance company.The 'most expensive natural disaster' since 2017 could cost as much as $40 billion to repair if the category 5 storm makes landfall in Florida. Forgot about hurricane Michael last year the category 5 that hit Florida Who holds the keys to the kingdom of God What about people and not money? How many die?
Source: Newsweek - 🏆 468. / 52 Read more »