A.M. Best: Insurer Losses from Hurricane Michael Will Be ‘Significant’
Insurers, reinsurers and ILS investors could face significant losses from Hurricane Michael, a major Category 4 storm that began its assault on the Florida PanhandleWednesday, according to a briefing from A.M. Best.
Best said although Florida’s insurance market-share leaders possess strong levels of risk-adjusted capitalization that should provide a buffer against Hurricane Michael losses, there will still be an impact for insurers writing in the state, according to a new A.M. Best briefing.