Estimates of insured losses from Wilma range from 4 billion to 10 billion. The four hurricanes last year and the same number so far in 2005 in the state indicate that there might be more years like this ahead, ... That means that the risks associated with insuring properties in these areas have substantially increased.
More Quotes from Robert Hartwig:
There are easily storm scenarios in New York that run to tens of billions of dollars. And structures on Long Island aren't as well built as new construction in Florida.Robert Hartwig
Hopefully, in two years we're not in this same position again, in the 11th hour trying to negotiate terms for an extension.
Robert Hartwig
The local, state and federal government are still at quite a distance away from a financially feasible solution. While there needs to be a way to assure the financial recovery of hurricane victims, you also need to make sure the risk is reflected in the p
Robert Hartwig
We are already at about 50 billion of insured losses from catastrophes in this country so far and that could be as high as 70 billion, depending on what Katrina does. Hurricane Wilma is a situation that is going to exacerbate what was already problematic for the insurance industry.
Robert Hartwig
They can't get behind the wheel once without your insurance company knowing about it.
Robert Hartwig
This is an insurance adjuster's worst nightmare. We're seeing tens of millions of additional damage each day and the meter is still running.
Robert Hartwig
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