This may be accidental, but this kind of data is worth watching. We might see the post-Tiger equivalent of those mysterious fires that used to spontaneously break out in listed and architecturally important vacant buildings in prime locations in Dublin.
Here’s an article from National Public Radio in the US. It looks like the insurance industry there is preparing to deal with situations where people who are facing foreclosure torch their properties for the insurance money.
Hibernian General Insurance loosing their nuts as a result of fire loss claims. RSA in a bit of a fix for the same reasons. Commercial insurance rates rising and plans to significantly increase the rates if the current wave of modest rate hikes do not deliver the desired results. Reinsurers prepared to place certain commercial insurers on their watch lists if this pattern continues. Similar to the banks cutting mortgage broker commissions, this idea is on the cards at the 2 of the leading commercial insurance companies but they are worried about the commercial impacts to their books of business. Costs have to be reduced.