2019 Atlantic hurricane season

Loss expectations from hurricane Dorian are rising towards $2 billion for the primary insurance carriers located in the Bahamas, as the latest company updates emerge and the financial impacts of the devastating storm continue to rise for the local industry.

Primary insurance carriers located in the Bahamas are set to take around $1.5 billion of losses following the impacts of claims from hurricane Dorian earlier this year, according to the local insurance association.

Tropical storm Nestor has finally been named, after it strengthened in the Gulf of Mexico with winds now at 60 mph and warnings still raised for the Gulf coast, with a focus on the Florida Panhandle where a storm surge of up to 5 feet is forecast.

Hurricane Humberto continues to approach Bermuda as a dangerous category 3 storm with sustained winds now having reached 120 mph and an expanding wind-field, leading the National Hurricane Center to warn of the risk of a prolonged period of dangerous winds for the island.

Hurricane Dorian may ultimately result in an impact to the insurance and reinsurance industry of up to $8.5 billion across all territories affected by the storm, according to catastrophe risk modelling specialist RMS.

Hurricane Humberto, the eighth named storm and third hurricane of the 2019 Atlantic tropical storm season, is forecast to head eastwards with a track that could take it quite near to Bermuda as a strong storm, possibly with wind speeds in the Cat 2 to Cat 3 range.

Hurricane Dorian is estimated to have caused an industry insured loss of $5.23 billion by catastrophe risk modeller Karen Clark & Company (KCC).

Hurricane Dorian is estimated to have caused a wind and storm surge related insurance industry loss of between $3.5 billion and $6.5 billion in the Caribbean and Bahamas by catastrophe risk modelling specialists RMS.

Hurricane Dorian is estimated to have caused an insurance industry loss in a range from $1.5 billion to as much as $3 billion from its impacts to the Caribbean islands, according to AIR Worldwide.

Hurricane Dorian has begun to weaken somewhat as it lashes the North Carolina coast, with flooding from storm surge and rainfall reported in some areas, as well as wind damage. The storm is now expected to sustain its hurricane force winds right up into eastern Canada and the surrounding region.