Hurricane
-
Climate variations will likely spur demand for ILS capital to help reinsurers manage peak US hurricane exposure, the manager said. -
The National Flood Insurance Program is expected to take $400mn-$800mn of losses.
-
In June, the company renewed its reinsurance program, holding the program’s retention for Florida events steady at $43mn.
-
The carrier had topped up its cover earlier this month after Laura triggered recoveries.
-
Rain and storm warnings are in effect for the provincial capital city of Halifax.
-
The total compares with around $50mn pre-tax cat losses in Q3 2019 from Hurricane Dorian and other events.
-
The Canadian Hurricane Centre described Teddy as a “very large and powerful storm”.
-
The figure compares with around $50mn in pre-tax cat losses in Q3 2019 from Hurricane Dorian and other events.
-
The NHC expects “significant flash and urban flooding” to continue.
-
Sally buffeted cities and town as it moved across Alabama at speeds as low as 2 mph, the modeller said.
-
The estimate excludes NFIP losses, offshore assets, and the potential impact of Covid-19.
-
Both storms are expected to bring heavy rainfall, storm surges and strong winds.
