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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.


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