P/C industry is prepared for events larger than Sandy, experts say

05/30/2013 | PropertyCasualty360

The property/casualty insurance industry is ready for this year's Atlantic hurricane season, experts say. Insurers are able to absorb losses from catastrophic storms "several times the size of [Hurricane] Sandy ... or even a series of Sandy-size events," said Insurance Information Institute President Robert Hartwig. Global supply chains' vulnerability to natural disasters, however, increasingly poses a problem, Hartwig said. "Record global catastrophe losses in 2011 exposed the fragility of global supply chains in the wake of the Japanese earthquake and tsunami, Thailand floods and many other events," he said.

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