-
Damage to crucial power infrastructure caused by the storm left over one million Louisiana residents without power.
-
Market sources said there had been no reports of major incidents, but damage assessments would begin in earnest today. -
The further losses edge into the $20bn range, the more the loss will shift to the retro market, but high uncertainty remains.
-
It has just one class of notes which will trigger on an indemnity, per occurrence basis against any wildfire in the state of California.
-
Experts fear for survivors, who now face an intense heatwave and up to a month without electricity.
-
There is no such thing as an average loss year, but investors will still be looking for benchmarks.
-
It recognised the debate surrounding the “plausibility” of such scenarios.
-
Aggregate deals remain an exposure, but overall Ida should be a more readily digested loss than surprise disaster scenarios.
-
Post-Covid demand surge is a particular focus and fear.
-
Twelve Capital said that typically 70%-80% of aggregate cat bond deductibles remain after earlier loss events.
-
Ida has weakened to a tropical storm after knocking out power to New Orleans and other coastal areas of Louisiana overnight.
-
Pre-landfall livecat ILW interest was marked by a $15bn-$20bn split in buy/sell appetite.
