Reinsurers Stand Poised To Help With Irma Losses

WASHINGTON, Sept. 11 -- The Reinsurance Association of America issued the following news release:

In the aftermath of Hurricane Irma, the Reinsurance Association of America (RAA) today said its members have the capital resources and stand ready to support their insurance company clients and their customers.

Frank Nutter, president of the RAA, said, "Our thoughts are with the thousands of people who have been impacted by this devastating weather event as they begin the long recovery and rebuilding process. As with previous catastrophic events, reinsurers will help individuals and communities rebuild by sharing the cost of recovery and rebuilding efforts with insurers.

While it may not be apparent, the devastation presents an opportunity build back stronger and better. Before consumers begin any reconstruction project, we urge them to learn about and consider home strengthening and building resiliency.

Going forward, the industry through its experience and expertise, will work to develop loss prevention strategies, support research to test loss prevention measures, and continue to raise public awareness about disaster risks and adaptation techniques. The end goal is to rebuild stronger so that our communities are safer and more resilient during a catastrophic event. It is the common-sense thing to do."