What Happens to Insurance Companies After A Major Disaster
When a major natural disaster occurs, such as a hurricane, much of our focus is on our families and our own safety. However, insurance companies can take big hits following…
New Bill Seeks To Investigate How Federal Government Failed Puerto Rico
Over a year has passed since Hurricane Maria devastated Puerto Rico, but the island is far from achieving a complete recovery. Puerto Rico’s slow recovery has been surprising to many;…
New Study Finds Hurricane Maria Cost Puerto Rico $43 Billion
Hurricane Maria devastated the island of Puerto Rico over a year ago, but the true cost of the storm is still being determined. According to new estimates, original damage calculations…
Reinsurer Recalcitrance Slowing Down the Repair of Puerto Rico’s Infrastructure
While preparing for a natural disaster is a wise idea, there are some things that just cannot be anticipated. When Hurricane Maria ravaged Puerto Rico, few could have imagined the…
Reinsurance Issues In Puerto Rico After Hurricane Maria
Practically every insurance company utilizes reinsurance to pass on the risk of claims to other insurance companies, or reinsurers. Reinsurance is basically insurance for insurance companies. In principle, the practice…
What Is Reinsurance?
Natural disasters have the potential to cause millions of dollars in claims payouts from insurance companies. Most insurance companies would be unable to make such large payouts if it weren’t…