Atlantic Hurricane Season

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Teddy aims storm-force winds at Bermuda, storm Beta a Gulf rain & flood threat

Hurricane Teddy is a large and significant storm but thankfully looks set to pass to the east of Bermuda, although the island could be in for tropical storm-force winds over the next 24 hours. Meanwhile, tropical storm Beta is heading for a Texas. Gulf Coast landfall, with the major threat currently read the full article →

Hurricane Sally expected to drive significant NFIP flood losses: A.M. Best

Hurricane Sally's extreme rainfall and storm surge are expected to drive significant insured losses for the National Flood Insurance Program (NFIP), putting its reinsurance panel and catastrophe bond investors on alert, according to A.M. Best. The rating agency said that the the U.S. Federal Emergency Management Agency's (FEMA) flood insurance program read the full article →

Hurricane Sally losses preliminarily estimated at $1.5bn to $3.9bn by AIR

According to our industry sources, a preliminary estimate of insurance and reinsurance market losses from hurricane Sally has been pegged at between $1.5 billion and $3.9 billion by catastrophe risk modeller AIR Worldwide. This is not an official, publicly announced industry loss estimate from AIR, we understand, with that expected to read the full article →

Hurricane Sally industry loss said in the low billions, ILS impact said slight

Hurricane Sally's late intensification before landfall yesterday is expected to mean that overall private insurance and reinsurance market losses from the storm reach into the low billions, with any impact to ILS positions expected to be minimal. As we explained just prior to hurricane Sally's landfall yesterday, the fact the hurricane read the full article →

Tremor sees higher live cat interest for hurricane Sally than with Laura

Tremor Technologies, the insurtech offering a technology-based programmatic insurance and reinsurance risk transfer marketplace, experienced higher activity in its live cat ILW marketplace yesterday for hurricane Sally, than it did a few weeks ago for Laura. The company launched a live cat industry loss warranty (ILW) marketplace for hurricane Sally yesterday, read the full article →

Hurricane Sally intensifies to Cat 2, 105mph winds on approach to landfall

Hurricane Sally made a last attempt to strengthen as it wobbled slowly towards the north Gulf Coast and has now intensified into a Category 2 storm, with sustained winds reaching 105 mph and higher gusts being reported. It changes the outlook a little for the insurance, reinsurance and insurance-linked securities (ILS) read the full article →

Hurricane Sally to bring “historic flooding” to Gulf Coast region

While hurricane Sally's wind speeds have remained relatively static throughout today as a Category 1 hurricane, the expectations for rainfall from the storm have increased, with the NHC warning of a "historic flooding" event for the northern Gulf Coast region. Update, September 16th, 07:30 BST: Hurricane Sally intensified to category 2 read the full article →

Sally rapidly strengthens into a hurricane as it heads for Gulf Coast landfall

Hurricane Sally has now formed in the Gulf of Mexico and as some forecasts had suggested is now showing the potential for further rapid intensification, with at minimum a Category 1 or 2 hurricane landfall now anticipated on the central Gulf Coast, not far from New Orleans. This article was last read the full article →

Hurricane Paulette to strike Bermuda this morning

Bermuda faces its first significant hurricane threat in the shape of hurricane Paulette which is expected to strike this morning and could see its eyewall affecting the island for a number of hours. Based on the forecasts Bermuda had been expecting to see hurricane force winds as hurricane Paulette passed nearby, read the full article →

FedNat triggers reinsurance program with hurricane Laura losses

FedNat Holding Company, the U.S. primary insurance carrier group, said that its reinsurance counterparties will be bearing a share of its losses associated with recent hurricane Laura. The insurer also said that it has purchased another reinsurance cover in September, providing extended second-event protection. FedNat said that both its FedNat Insurance Company read the full article →