Posted: 6/14/2011
The RMS 11.0 Effect
So far this year, the U.S. has suffered through eight catastrophic weather events in 2011, each resulting in billion-dollar-plus damage. Many companies I’ve talked with seem to be having the same experience as the U.S. reinsurance market – catastrophe losses in the first five months of the year that already had approached the total CAT loss cost of 2010. It’s been alarming to say the least, but not as much as the fact that these weather events all occurred before the onset of the hurricane season.