Is the property-casualty insurance market undercapitalized by $82 billion? If so, who will fill it?
The questions–and the $82 billion lack of surplus estimate–came from by Peter Nakada, managing director of Newark, Calif.-based RMS Consulting, who admitted that the figure he spoke of was a “back of the envelope” calculation.
Venturing a bit outside of his area of expertise–catastrophe modeling–to pull together an estimate that might normally come from a rating agency analyst, Mr. Nakada said his estimate actually was based on output from the newest version of RMS' catastrophe model.
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