US hurricane season may halt rate decline
The impact of Hurricane Charley in Florida is likely to slow the downturn in the underwriting cycle ...
The impact of Hurricane Charley in Florida is likely to slow the downturn in the underwriting cycle rather than lead to a hardening of rates, according to analysts.
Estimates for the 160-mile wake of devastation - from Port Charlotte to Daytona Beach - are now between $5bn and $10bn, (£2.8bn and £5.6bn), despite initial reports claiming the event was on a par with Hurricane Andrew, which struck the area in 1992 causing $19bn (£11bn) of damage.
However, the Benfield Hazard Research Centre's
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