The effect Hurricane Irma had on Re-Insurers

There have been a large number of reopened claims related to Hurricane Irma. Reopened claims negatively impact re-insurers. Re-insurers are insurance companies that insure the risks of other insurance companies. Everest Re Group, Ltd., is one of the re-insurers that was negatively impacted by these reopened claims, losing more than 70 percent of their net worth. Many of the claims that they assumed were actually prematurely closed, not because they received false positives from their clients, but because their [Read more…]