Recovery...

As Hurricane Irma battered Florida, the cream of the insurance world – gathered under the Mediterranean sun in Monte Carlo assessing the costs of the storm for the global industry.

But at this early stage, the damages are not expected to be so excessive that they hit insurers’ capital base in a way that would lift slumping insurance prices or hurt their credit ratings.

Estimated that insured losses for the global industry would total between $20 billion and $30 billion, which would put the storm on a similar scale to Hurricane Sandy, in New York in 2012.  

The insurance companies are well protected by their policies and experiences of the region. However people are the one who will carry the heavy cost of being in this region.   Just a thought.