JP Morgan analysts predicts that loss estimates for Hurricane Micheal, the third most intense Atlantic hurricane to make landfall in the US, will be manageable for the property and casualty Industry and are unlikely to meaningfully affect reinsurance prices. Ohio – based rating firm Demotech. which rates 52, Florida based Insurance Companies as well as others in surrounding states affected by Micheal, said these Companies are well positioned to handle losses.
Demotech believes that each of the Company they reviewed and rated that are exposed to losses from Hurricane Micheal have in place a rigorous and vigorous catastrophe reinsurance programme. Others agree that Florida’s heavily – reinsured domestic Insurers and an overall well capitalized Insurance Industry should be able to handle Micheal’s losses without major disruption.