Robert Hartwig
Robert Hartwig
continued insurance price problems relative risk unless
Unless there is some rationalization of the price of insurance relative to the risk assumed, there will be continued problems of availability.
changes people risk
You're going to be on the hook. What if one of the people is a 17-year-old? That dramatically changes your risk profile.
areas assure distance feasible federal financial government hurricane needs people price quite recovery reflected risk state
The local, state and federal government are still at quite a distance away from a financially feasible solution. While there needs to be a way to assure the financial recovery of hurricane victims, you also need to make sure the risk is reflected in the price that people that live in high-risk areas pay.
adjustment certainly cycle expecting frequent intense next
We are certainly expecting that for the next 20 years or so we will be in a cycle of more frequent and intense storms. There's going to have to be an adjustment in the industry.
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.
claims directly fewer increase lower overall rate translate
Fewer claims translate directly into a lower overall rate increase for consumers.
evidence frequent hurricane season storms
There's overwhelming evidence that the 2006 hurricane season will be longer, and storms will be more frequent and intense. We could see 20 years of this.
looking top worst
Projections that this is going to be the worst ever are probably off... we're probably looking at something that's in the top five.
disaster industry promote weigh
We don't want to promote 'serial rebuilding,' ... The industry does weigh in in post-disaster debates.
budget congress mood negative pass people skeptical
I'm skeptical that a lot of people will use them, and I'm even more skeptical that Congress is in a mood right now to pass anything that has a negative budget impact.
active expected hurricane season twice
The 2006 hurricane season is expected to be twice as active as usual.
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.
based cost families million per recent running total
Based on recent precedents, compensation payments to passengers' families are running at about $2.4 million per passenger, which suggests the total cost to insurers could be between $250 million to $350 million.