Sandy may not prompt rate increases, experts say

11/11/2012 |

The losses caused by Hurricane Sandy and its remnants likely are not enough by themselves to lead the property/casualty insurance industry to raise homeowners rates, industry experts say. Rate increases depend on "actual and anticipated losses in any given state," said Michael Barry of the Insurance Information Institute. PCI's Chris Hackett said that "one storm in and of itself may not be enough" to result in higher rates for everyone.

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