NU Online News Service, May 3, 3:15 p.m. EDT

Insurance rates are showing signs of stability despite the catastrophe losses earlier this year, but catastrophe-exposed risks in North America will probably see increases in the mid-single-percent range, according to a report from Willis Group Holdings.

In its 2011 Spring Market Update report, Willis notes that the impact from the earthquake in Japan, as devastating as it was, has had a limited effect on the insurance market because insurance penetration was not that deep. However, a devastating hurricane event in the United States could have a significant impact on insurers because the insurance penetration is deeper.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.