July 1, 2019 / 3:07 PM / 18 days ago

Reinsurance rates rise by up to 25% in Florida: Willis Re

LONDON (Reuters) - Property reinsurance rates rose by up to 25% in the latest renewal round in areas of Florida hit by hurricanes, reinsurance broker Willis Re said on Monday.

In Florida, “recent catastrophe activity has resulted in reinsurers changing their hurricane models and view of risk,” Willis Re said in its review of the July 1 and June 1 renewal season.

Reporting by Carolyn Cohn; Editing by Rachel Armstrong

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