Hurricane forecasters may be split on whether the 2016 Atlantic hurricane season will be above average or normal, but even a higher level of storms might not boost property insurance prices to levels seen in prior market cycles, according to Fitch Ratings.
“A large catastrophic hurricane in 2016 would likely promote a shift towards positive pricing movement following years of property insurance pricing declines in the U.S. property/casualty market,” Fitch said this week.