Property rates in cat exposed areas could rise another 50% says Kiln's Andrew Carrier...
Hurricane property cover could rise by a further 50% next year, despite 2006 being one of the most benign hurricane seasons in decades, according to Andrew Carrier, active underwriter at Kiln.
Speaking to the Telegraph, Carrier said that storm exposed property rates will continue to rise in 2007 and could rise by up to 50% in coastal regions.
Commenting on the fact that 2006 had been a benign year for storm activity, Carrier suggested that this could be due to the uncertainty factor now added by climate change. "The fact that 2006 has been benign could be a symptom of unpredictable global warming," he said.
