The hurricane-exposed state saw some of the highest premium increases last year, as transferring risk became more expensive for insurers.
Florida experienced some of the sharpest home insurance premium increases in the entire country last year and had the highest share of insurers transferring risk to reinsurance companies—two factors that are closely connected, a recent study by the National Bureau of Economic Research found.
Reinsurance exposure indicates the level of risk exposure in a reinsurance treaty—the maximum possible loss suffered should the very worst happen. Reinsurance is a form of insurance for insurance companies, who pass on the risk to another party, the reinsurance company. It's normally linked to severe risks like hurricanes and wildfires.
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