March Weather Wallopped Insurers

The severe weather trends continue as March proved very costly to insurance companies. Tornados are the main driver. Many insurance companies CEO's are meeting behind closed doors with weather experts trying to figure if the Nation is in a severe pattern or will the cats finally subside. As of now no one really knows or can explain other than el nino vs el nina.  The insurance carriers need to get a handle on this if it turns out to be a pattern of cats, because their reserving numbers depend on it. In a time with combined ratios in the upper 110 area, companies are very anxious about the weather. Just when you think you have it donn pat, mother nature shows who is boss. Until next time be careful out there and know your risks. K

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