2020 Atlantic hurricane season

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AIR preliminarily pegs hurricane Laura industry loss at $4.8bn to $9.2bn

According to industry sources, catastrophe risk modeller AIR Worldwide's preliminary estimate of insurance and reinsurance market losses from hurricane Laura was pegged in a range from $4.8 billion to as high as $9.2 billion. We understand this is not an official industry loss estimate from AIR, that should be expected in read the full article →

Hurricane Laura wind & surge insured loss $8bn to $12bn: CoreLogic

Hurricane Laura's impacts wind and storm surge impacts in Texas and Louisiana are estimated to have caused insured losses of between $8 billion and $12 billion, according to CoreLogic. The majority of that is expected to be from wind damage, as would be expected for the private insurance and reinsurance market, read the full article →

Hurricane Laura assessment to take time, double-digit billion loss possible

Hurricane Laura has now been downgraded to a tropical depression as it moves over Arkansas but it has taken more than 24 hours from landfall for its sustained winds to drop below storm strength, with the significant footprint of the large storm likely to make damage assessment take time. The insurance read the full article →

Live cat ILW’s fail to trade as Laura’s track stays east of Houston: Tremor

While hurricane Laura was intensifying rapidly on its path towards the Gulf Coast, insurtech firm Tremor Technologies ran a series of industry loss warranty (ILW) auctions, but no trades were made as the market assumed the loss would not be significant enough to warrant the added coverage. Interest in trading live read the full article →

Hurricane Laura industry losses seen as “manageable” by analysts

Insurance and reinsurance industry losses from hurricane Laura's onslaught of the Louisiana and Texas Gulf Coast region today are expected to be manageable for the industry, despite the intensity of the storm, analysts have said. Hurricane Laura made landfall early this morning near Cameron, Louisiana as an intense Category 4 storm read the full article →

Hurricane Laura exposed insurers could tap reinsurance (ALL, TRV, PGR, HIG)

A number of the major property and casualty insurers that are seen as most exposed to hurricane Laura's impacts on the Gulf Coast region could tap into their reinsurance programs, should the major hurricane prove particularly impactful. Analysts from Morgan Stanley explained that Allstate, Travelers, Progressive and The Hartford are all read the full article →

Cat bond trading seen as light as hurricane Laura approached

According to our market sources, secondary market trading of catastrophe bonds under the approach of hurricane Laura was "relatively light" by comparison to other major hurricane threats, perhaps suggesting that the uncertainty in the forecast cone made it more attractive to hold onto certain positions. Hurricane Laura, while a very significant read the full article →

Hurricane Laura makes landfall in Louisiana with 150mph Cat 4 winds

Hurricane Laura has made landfall in the last hour as an extremely dangerous and large Category 4 hurricane with 150 mph sustained winds, near Cameron, Louisiana, around 30 miles SSW of Lake Charles. Hurricane Laura intensified right up until landfall, almost making it to Cat 5 strength, as its central pressure read the full article →

Hurricane Laura analogues cited at up to $6bn insured loss by RMS

Hurricane Laura analogue storms from the past, so major category 3 to 4 hurricane landfalls that hit similar areas of the Louisiana/Texas border region, show a $0.8 billion to $5.9 billion range of insurance industry losses, according to modelling by RMS. Catastrophe risk modelling specialist RMS has shared data that shows read the full article →

Hurricane Laura reaches Cat 4 with 140mph+ winds as it heads for landfall

Hurricane Laura has continued intensifying today, now reaching Category 4 major hurricane status, with sustained winds of 140 mph or higher. Laura is expected to continue strengthening a little more and maintain Cat 4 strength to landfall by forecasters, while they still warn of a potentially "catastrophic" storm surge for read the full article →