Hurricane
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An estimated 70,800 claims are projected as a result of Hurricane Irma, the state-backed insurer said. -
Insured flood losses for Hurricane Florence could reach $10bn and may near the NFIP’s reinsurance treaty trigger, CoreLogic said.
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The range includes as much as $1.2bn in losses covered by the National Flood Insurance Program (NFIP), the risk modeller said.
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Hurricane Florence may cost (re)insurers between $4.5bn-$4.8bn, according to an estimate from Credit Suisse Insurance Linked Strategies.
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Munich Re and Swiss Re as well as Lloyd’s insurers are among the top reinsurers of the leading insurers in North Carolina and South Carolina.
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Insured losses from Hurricane Florence are expected to reach $1.7bn to $4.6bn, the modeller has said.
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Several themes discussed at this year’s Rendez-Vous threaten to bust reinsurers' navel-gazing habitsEmerging from the glare of the Monte Carlo Rendez-Vous – the reinsurance market’s annual gathering in Monaco – is always something of a bubble-popping moment.
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The Florida-based insurer estimates it will take just $4mn of gross losses from the storm.
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Most of the losses resulting from floods caused by Hurricane Florence will be uninsured, JLT said.
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The estimate includes inland flooding but not National Flood Insurance Program claims.
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The dangers from flooding remain after the storm has passed.
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The city of Osaka sustained most of the losses.
