They cannot change the terms of existing insurance contracts. The increased prices will show up on new contracts - either renewal or entirely new properties. T

They cannot change the terms of existing insurance contracts. The increased prices will show up on new contracts - either renewal or entirely new properties. That said, as the article notes: > There is some skepticism that reinsurance prices can rise enough in the coming year to offset the decline over the last decade. Any changes may also take some time to flow through the industry. In Florida, one state tested by this year’s events, many insurers won’t renew their reinsurance policies until June.