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Hurricane Ian’s reinsurance influence to extend well-beyond Florida: Swiss Re

December 9, 2022

Hurricane Ian is seen as an additional catalyst for hardening reinsurance rates, by global giant Swiss Re, who warns that its impact “will extend beyond Florida and add to pre-existing drivers of rate increases such as claims inflation.”

Reinsurance capacity was already limited even before hurricane Ian’s onslaught of Florida back in September and a firming market was anticipated well-before it formed.

“Constraints on new sources of capital” is one issue, alongside broader macro-economic volatility, inflation, concerns over secondary perils and climate change, Swiss Re said.

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