Insurers' reserves should cover Sandy damage Premiums written, or the amount insurers charge policy holders for coverage, have been trending up for five years as the number of new homeowners rose and risks increased amid tropical storms, nor'easters and record snowfall. In Greenwich, William R. Berkley, chief executive officer and chairman of the insurance holding company W.R. Berkley Corp., said costs and availability of insurance will both be affected. "Homeowners insurance for people along the shore is going to go up significantly," he said. Besides the wild weather created by global warming, Berkley said the decision by Connecticut and other states to prevent insurance companies from making homeowners meet their deductibles before giving payouts for damage from Sandy and Irene last year means that premiums on homeowners insurance will go up. While the scope of Sandy's damage is not beyond the industry's ability to cover the costs associated with it, a continuing cycle of large-scale events - from hurricanes to earthquakes and tornadoes - could create a national problem for insurers.