I feel that a hurricane surcharge be added to the premium charged by Underwriters especially for the seasonal ones. In this way underwriters can have a larger fund to pay claims. I understand that claims from the Hurricane Ivan is expected to the around USD20Billion.
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I feel that a hurricane surcharge be added to the premium charged by Underwriters especially for the seasonal ones. In this way underwriters can have a larger fund to pay claims. I understand that claims from the Hurricane Ivan is expected to the around USD20Billion.
They’d just complicate things. These risks are already accounted for in CAT loads charged in regular premiums.