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It is not so much the size of the hit, as the regularity of moderate cat events that is worrying risk-takers. -
The ICA welcomed the step closer to clarity, after insurers lost the first BI test case over the interpretation of the Quarantine Act.
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The modeller excluded precipitation-induced flood losses from its estimate, which comes in above the $18bn from KCC.
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Megan Kempe is now based in Bermuda as senior vice president of emerging risks.
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The speciality residential and commercial house has a focus on earthquake, hurricane and flood risk.
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The carriers with the largest Louisiana market shares also ceded more than $100mn to Lloyd’s syndicates during 2020.
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She previously worked as VP underwriting for IAT insurance group, a Florida based property-casualty carrier.
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The reinsurer has also appointed Greg van der Made as treaty underwriter and David Cary as underwriting manager.
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The agency said its rated insurers were well positioned to absorb significant catastrophe losses, as they had generally experienced capital expansion over the previous 12 months.
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The ratings agency said that a surge in demand could add to the costs of rebuilding.
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The estimate includes damage to residential, commercial and industrial property and vehicles.
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Damage to crucial power infrastructure caused by the storm left over one million Louisiana residents without power.
