Robert Hartwig
Robert Hartwig
disaster industry promote weigh
We don't want to promote 'serial rebuilding,' ... The industry does weigh in in post-disaster debates.
backs commercial happy industry lines obviously worker
The industry is obviously happy and grateful. It backs the most important lines -- worker compensation and commercial property.
although extending extension increase industry largely looking months satisfied shape six taken
The industry is largely satisfied with the way the TRIA extension has taken shape although there is some consternation over the increase in trigger. But six months ago, even the possibility of extending TRIA was looking grim.
abuse auto behind cases costs driver due higher insurance medical outright pressure prices principle rising share
Rising medical costs are the principle driver behind higher auto insurance prices in the U.S. and a significant share of that pressure is due to abuse and in some cases outright fraud.
budget congress mood negative pass people skeptical
I'm skeptical that a lot of people will use them, and I'm even more skeptical that Congress is in a mood right now to pass anything that has a negative budget impact.
active expected hurricane season twice
The 2006 hurricane season is expected to be twice as active as usual.
billion money talking
we'd be talking about $4.5 billion as a lot of money - and it is a lot of money.
company creates inform insurance liability people
Typically, they want to know how many people are residents in your household. That creates a different liability situation, and you need to inform your insurance company about that.
cost
We dodged a bullet. But it's still probably going to cost insurers in the vicinity of $4.5 billion.
cost
We dodged a bullet, ... But it's still probably going to cost insurers in the vicinity of $4.5 billion.
definition fairly water
The definition of 'flood' is fairly ironclad. It's essentially water that comes from below,
continued insurance price problems relative risk unless
Unless there is some rationalization of the price of insurance relative to the risk assumed, there will be continued problems of availability.
billion country depending far high hurricane insurance katrina losses situation
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.
based cost families million per recent running total
Based on recent precedents, compensation payments to passengers' families are running at about $2.4 million per passenger, which suggests the total cost to insurers could be between $250 million to $350 million.