Sandy may lead to higher P/C rates in first half, Aon says

02/21/2013 | Business Insurance (tiered subscription model)

First-half rate increases of up to 10% are possible because of Hurricane Sandy, according to a report from Aon Risk Solutions. Last year's global catastrophe losses amounted to $65 billion, with insured losses from Sandy totaling $25 billion, the report said. Limit availability is expected to remain adequate after a majority of accounts maintained or increased limits last year, but flood-coverage limits may be "cautiously offered by property insurers," Aon said.

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