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The country’s economy minister predicts the 2,500 claims received so far could quadruple to 10,000.
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A fire tornado is formed when rising heat combines with turbulent wind conditions, creating towers of flame and ash.
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The $3.9mn claim followed an August revision to the PCS Irma loss estimate. -
The February storm was the 13th notable event in a very active European windstorm season.
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The storm system is not currently forecast to make a US landfall, although could impact Bermuda later next week as a tropical depression.
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The modelling agency included $400mn to $700mn of losses to the US government’s National Flood Insurance Program as part of its estimate.
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The fire grew to 10,000 acres within the first two hours and now threatens around 5,420 structures.
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Tornadoes, hail and strong winds hit the eastern half of the US last week.
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The absolute quantum has moved but the outlook is broadly the same, CFO Quinn said.
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The updated total of A$958mn ($675mn) includes additional property and motor damages.
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The sidecar's asset base has fallen by around $140mn in the past year.
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The developing world specialist insurer is looking for input from ILS funds and reinsurers.
