Hurricane Wilma==which by some estimates may have inflicted a $12 billion insured loss==will put financial pressure on insurers and reinsurers but not enough to badly damage carriers' credit, according to Moody's Investors Service.
In a new report, the New York-based rating firm said that insurers are much better prepared for Florida catastrophes than other states, noting that carriers with business there have reduced exposure through exclusions, restrictions and increased deductibles.
In its report=="Hurricane Wilma: A Fast Moving Storm With Significant Impact to the Property & Casualty Insurance Industry"==Moody's also mentioned there is significant reinsurance capacity through the state-run Florida Hurricane Catastrophe Fund that backstops property insurers.
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