Why are hurricanes important to my car insurance

Typhoon Mangkhut insured losses up to $2bn

“Industry insured losses from Typhoon Mangkhut in mainland China, Hong Kong, and Macau will be between $1 billion and $2 billion, according to estimates by catastrophe risk modeling firm AIR Worldwide”

how does this affect my normal premium on my car & home or small business insurance ?

sad to say but this impacts the reinsurance where your insurance companies buys the insurance ( as a wholesale ) actually again to re sell to you. If your wholesaler makes a loss on a product the retailer gets it for a higher price and that is what happens with our monthly traditional premiums.

I for one one are strongly Believing in the peer to peer concept but with a bit of more direct re-insurance ( wholesale ) and a bit direct insurance bundels that hopefully will be reinvented in our space shortly.