KBRA Releases Research ? Florida Insurers Facing Storms on Many Fronts
KBRA releases research that examines Florida's property insurance market as the industry faces storms on multiple fronts amid the 2022 Atlantic hurricane season. While the annual hurricane season is already one-third the way through, only 10% of landfall activity in Florida typically occurs by early August. The Colorado State University (CSU) Tropical Meteorology Project team?one of the pioneers of hurricane forecasting?released an updated Atlantic hurricane season forecast on August 4 that called for 18 named storms, down slightly from July's forecast of 20 named storms, and continues to see a seventh consecutive year of "above average activity."
Key Takeaways
As we enter the most active period of the hurricane season, KBRA notes the following:
- Storm Front Number One: The new normal continues; expect more hurricane strikes.
- Storm Front Number Two: Losses continue to mount.
- Storm Front Number Three: Reinsurance more scarce and less affordable.
- Storm Front Number Four: Regulators and ratings.
Click here to view the report.
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About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA's ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
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