Reinsurance Rates Are Falling — Except For Property, Casualty Coverage Along U.S. Coast

According to a survey by insurance broker Willis Group Holdings Ltd. (New York and London), reinsurance rates have declined 5 to 10 percent in many parts of the world.  An exception is the U.S. Gulf and East coasts, where reinsurance rates have climbed as much as 40 percent, especially for policies that cover wind damage.  Five reasons were given, and I thought the most interesting was number four: a reassessment of the catastrophe risks of the U.S. Northeast Coast, which is in line with the increased premiums charged for homeowners policies — or refusal to write new coverage — in that area.

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