One of the most significant -- and certainly one of the more visible -- risks faced by a property-casualty insurance company is catastrophe risk. As we are heading into the core of hurricane season, it's not surprising that meteorological prognostications and estimations of hurricane preparedness are on everyone's radar screens.
A press release regarding a New Hurricane Readiness Index can be found on the Insurance Information Institute website, at
http://www.iii.org/media/updates/press.757472/
This survey and evaluation, sponsored by a number of major P/C insurers, concludes that homeowners still have a ways to go with respect to preparedness for future hurricanes.
Other noteworthy insurance-related hurricane-season writings in the last couple of weeks include a page 1 Wall Street Journal article about the current demand-supply crunch for catastrophe insurance ("As Hurricane Season Begins, Disaster Insurance Runs Short," Monday, July 10), and an article in Barron's about the possible favorable results for some insurers if the hurricane season turns out to be not-so-bad ("Fair Weather's Friends," also July 10).
- Rick
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