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The risk modeler estimated the NFIP could take $10bn additional losses from storm surge and inland flooding. -
The two ILS firms were among those participating in a $20mn fundraise for Elpha Secure Technology.
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The state insurance body received reports of 375,293 claims as of 6 October.
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The estimate includes wind loss, re-evaluated insured and uninsured storm surge loss and newly calculated inland flood loss for residential and commercial properties.
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Hurricane Ian could present a challenge for ILS fundraising conversations this autumn if ILS firms do not find more financing solutions to manage trapped capital, according to panellists at Trading Risk New York 2022 last week.
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KCC has added a loading for litigation costs to the storm loss estimate for the first time.
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RMS pushed the guidance for the Carolinas component of the Ian loss $120mn higher at the mean level up to $1.94bn, as it updated figures on Saturday in private figures to clients.
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Most of the losses will come from wind damage, while storm surge and inland flooding could account for up to $6.5bn in total.
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KCC previously issued a $32.5bn number in a private client advisory based on Ian's Tuesday track.
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The figures include both wind and storm surge losses.
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The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday.
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The incoming CUO joins from InsurTech MGA Kettle, where he was also CUO.
