OLDWICK, N.J.--(BUSINESS WIRE)--In this episode of A.M.BestTV, insurers and reinsurers at the annual conference of the Property Casualty Insurers Association of America (PCI) in Miami, FL, see opportunities in expanding their flood coverage. Click on http://www.ambest.com/v.asp?v=pci1018 to view the entire program.
“Eighty percent of the properties in Houston last year, residential and commercial, did not have any flood coverage,” said David Sampson, president and chief executive officer, PCI. “This year we are seeing similar numbers for Hurricanes Florence and Michael. That means these communities are going to face significant challenges far greater than they would face being covered.”
Ted Blanch, chief executive officer and chairman, COIN Re, believes insurers need to do more than just talk about the issue.
“My observation is that there is more talk than there is action,” he said. “Additionally, to the extent that we get the flood insurance issue under control, I believe, if insurance companies stop talking and start acting, we can get there much quicker.”
Other people that appear in this episode:
- Mohit Pande, head of property underwriting, United States and Canada, Swiss Re.
For full video coverage of the PCI 2018 conference, including exclusive executive interviews, please visit http://www.ambest.tv/pci18.
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