Robert Hartwig
Robert Hartwig
billion country depending far high hurricane insurance katrina losses situation
We are already at about $50 billion of insured losses from catastrophes in this country so far and that could be as high as $70 billion, depending on what Katrina does. Hurricane Wilma is a situation that is going to exacerbate what was already problematic for the insurance industry.
disaster industry promote weigh
We don't want to promote 'serial rebuilding,' ... The industry does weigh in in post-disaster debates.
company creates inform insurance liability people
Typically, they want to know how many people are residents in your household. That creates a different liability situation, and you need to inform your insurance company about that.
definition fairly water
The definition of 'flood' is fairly ironclad. It's essentially water that comes from below,
cost
We dodged a bullet. But it's still probably going to cost insurers in the vicinity of $4.5 billion.
cost
We dodged a bullet, ... But it's still probably going to cost insurers in the vicinity of $4.5 billion.
companies deserve line lives soldiers utmost
These soldiers put their lives on the line and deserve the utmost respect. But even big companies haven't thought about their obligations to these people.
control florida growth living obligation shows signs state
The state of Florida is living in denial. Florida is not living up to its obligation to control growth and shows no signs of living up to its obligation.
hour negotiate position terms trying
Hopefully, in two years we're not in this same position again, in the 11th hour trying to negotiate terms for an extension.
activities added alternate buying customers cycle grow home insurance likely offered paperwork reduce revenue stream
Home mortgages offered through insurers are likely to grow in the future. Customers get the added convenience of coordinating their home buying activities and reduce the paperwork while insurers get an alternate revenue stream uncorrelated with the insurance cycle and unaffected by catastrophe losses.
activities added alternate buying customers cycle grow home insurance likely offered paperwork reduce revenue stream
Home mortgages offered through insurers are likely to grow in the future, ... Customers get the added convenience of coordinating their home buying activities and reduce the paperwork while insurers get an alternate revenue stream uncorrelated with the insurance cycle and unaffected by catastrophe losses.
ambiguous exact help hostile nature permanent position report sort time towards
If the nature of the report paves the way for some sort of permanent mechanism, that could help tremendously. But if its ambiguous or hostile towards the idea, then we will be in the exact same position as we were this time around.
collected forced lead penny possibly quite smaller
Insurers have never collected a penny in flood-insurance premiums. If they're forced to pay, it could quite possibly be destabilizing and lead to the insolvency of smaller insurers in the area.
billion generate interest investment months nine portfolio rates rising
Insurers benefited from the rising short-term interest rates to generate $40.7 billion on their investment portfolio in the first nine months of the year.