Moody's: Widespread rating actions unlikely

11/15/2005 | PropertyCasualty360

The aftereffects of Hurricane Wilma will not damage the credit of insurers or reinsurers, despite the estimated $12 billion losses it inflicted on the industry, according to a new report from Moody's Investors Service. The report, "Hurricane Wilma: A Fast Moving Storm With Significant Impact to the Property & Casualty Insurance Industry," noted that carriers doing business in Florida are better prepared to deal with catastrophes than in other states and said some property-casualty companies have already recapitalized from their hurricane losses.

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