Insurance companies are on good financial footing standing as hurricane season approaches.
Insurance expert at the University of South Carolina Bob Hartwig told South Carolina Radio Network that the property insurance companies are on good financial footing. “The insurance industry is going into the 2018 hurricane season with record claims-paying capital on hand.”
“To pay any and all claims that Mother Nature happens to bring this way,” said Hartwig.
He said the companies’ good financial status is in the wake of a destructive hurricane season last year. “That’s despite the fact that last year we experienced near-record hurricane activity in the United States.”
The Atlantic hurricane season is June 4th to November 30th.
“The height of hurricane season which begins in August and September and here in South Carolina goes well into October,” Hartwig said.