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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (41346)	9/12/2005 1:04:26 PM
From: ild	Read Replies (1) \| Respond to of 110194

Ramsey, all good points. Did you see this? Gain on sale margins have plunged Message 21691730

To: Ramsey Su who wrote (41346)	9/12/2005 1:22:43 PM
From: ild	Respond to of 110194

01:10 ET Aon Corp estimates the property reinsurance market impact of Hurricane Katrina (AOC) 32.54 +1.33:AOC says Hurricane Katrina will most likely be the largest property loss ever recorded in the global property reinsurance market. Estimates of insured losses from leading modeling firms range from $14-$35 bln. These estimates generally exclude losses related to the significant flooding in New Orleans due to the lack of clear data reflecting insured exposures. One of the modeling firms has estimated the insured flooding at $15-$25 bln (including approximately $10 bln from federal govt programs) bringing their total estimate of insured losses to $40-$60 billion. The unknown extent of flood insurance coverage, whether written voluntarily or deemed in place by regulators or courts -- so called "regulatory surge", the unknown extent of insured business interruption coverage and other difficult to model issues such as demand surge adds even more uncertainty. They say the resolution of these issues will take months and, in some cases, years. They expect Hurricane Katrina to have an impact during the upcoming renewals and we are still little more than half way through the 2005 hurricane season.