Property pricing expected flat to +5% post recent NA hurricanes
Insurance intermediary Brown & Brown is cautiously optimistic in property pricing, seeing pricing developments flat (admitted markets) to +5 percent (excess & surplus markets) post recent hurricanes, according to a Morgan Stanley Oct. 17 analyst note.
Florida coastal property rates have been declining by double-digits in recent years.
Total insured losses from recent natural catastrophes such as Hurricane Harvey, Irma and Maria could hit $100 billion, according to catastrophe modelling company RMS.
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