NU Online News Service, Dec. 29, 1:47 p.m. EST
The planned revision of a catastrophe model set for early spring 2011 could impact reinsurance pricing on Jan. 1, and property insurance prices in coastal and inland areas, a rating agency analyst said recently.
During the recent Standard & Poor's Insurance Hot Topics Conference, Taoufik Gharib, director and reinsurance specialist for S&P's Rating Services in New York, said "it remains too early to tell" the actual impact of a model change in the works at Newark, Calif.-based Risk Management Solutions. He suggested, however, that higher property insurance prices for U.S. inland areas are possible, as well as lower prices along the Atlantic coast.
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