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The storm produced a storm surge less severe than feared and has now been downgraded to a tropical depression.
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Storm surge losses are expected to remain under $500mn.
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Early modelling data points towards a single-digit billion loss, but excludes energy and Covid-19 impact.
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On its current forecast trajectory, the storm will hit Little Rock, Arkansas, where it could cause flash flooding.
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The state insurer of last resort buys cover from a much lower-attaching level than its Texas peer.
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The ratings agency predicts a potential retreat of certain E&S carriers.
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ILWs at the $10bn mark failed to clear, as auction participants suggested losses would not reach the trigger.
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The NHC reiterated its warning of “life-threatening” storm surge as the storm rapidly loses strength.
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AM Best warns the coronavirus pandemic will inflate the cost of claims arising from the strongest storm by far of this year’s hurricane season.
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The ratings agency says lockdown measures could pump up the repair bill.
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Over 83% of bushfire claims are closed, the ICA said.
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Insured losses from past storms in Laura's vicinity range from $13bn to $24bn, inflation-adjusted.