Property-casualty insurers can handle up to $40 billion of annual catastrophe losses, and $65 billion over a two-year period, the American Academy of Actuaries said today.
In preliminary findings prior to the release of a report sometime in the next several weeks, the Academy said any program of federal supports should be based on those capacity projections.
Shawna Ackerman, co-chair of the Academy's Natural Catastrophe Subcommittee, outlined plans for the group's involvement with the joint National Association of Insurance Commissioners-National Conference of Insurance Legislators effort to develop a plan to deal with natural catastrophe risk.
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