Sandy not a ‘game changer’; but may ease rate reduction pressure
Senior US P&C executives gathered in Dana Point, California for the PCI annual convention agree that Hurricane Sandy will not have a significant impact on 2013 cat reinsurance rates, despite the devastation wreaked on the Eastern Seaboard and continuing uncertainty over the eventual loss.
"It's going to be a significant loss but I doubt it will move the needle in that property cat space," commented Michael Stone, president and COO of specialty writer of RLI Corp.
I think we were...
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