2021 hurricane season

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Ida insured flood losses seen $11bn to $17bn by CoreLogic

Data and analytics company CoreLogic has provided an insurance market loss estimate for the flooding caused by hurricane Ida's remnants in the northeastern states of the US, saying it will range from $5 billion to as much as $8 billion. That's on top of CoreLogic's estimated $6 billion to $9 billion read the full article →

RMS says hurricane Ida loss $25bn to $35bn, on Gulf region impacts only

Catastrophe risk modeller RMS has provided the clearest view of the escalation in industry loss estimates for recent hurricane Ida, pegging the total onshore and offshore losses for the Gulf region at between $25 billion and $35 billion. This doesn't include any of the damages experienced further north from hurricane Ida's read the full article →

Cat bonds to see valuation volatility after Ida’s north east flooding: ILS managers

There's likely to be some uncertainty  in the secondary market pricing of the outstanding FloodSmart Re catastrophe bonds that provide reinsurance from the capital markets to FEMA's National Flood Insurance Program (NFIP), after the remnants of hurricane Ida flooded north eastern US states, ILS investment manager Plenum has said. As we read the full article →

Hurricane Ida loss estimates rising towards $30bn to $40bn: Goldman Sachs

Estimates for insurance and reinsurance market losses from recent hurricane Ida are rising with the inclusion of damages from the storms remnants that occurred further north, according to analysts at Goldman Sachs. Right after hurricane Ida slammed into Louisiana as a major Category 4 storm with 150 mph winds, loss estimates read the full article →

Ida remnant flood damage to add double-digit billions to storm costs: Aon

Flood damages suffered in the Mid-Atlantic and Northeast region of the United States from the remnants of hurricane Ida are expected to add double-digit billion dollars of economic loss to the overall toll from the storm. As if hurricane Ida's landfall damage in Louisiana wasn't catastrophic enough, the hurricane carried immense read the full article →

NFIP cat bonds & reinsurance in focus as Ida’s remnants flood New York

The remnants of hurricane Ida have continued to drop torrential rain along its path north east and its slow pace and heavy downpours have now flooded parts of New York, all of which is heightening the risk posed to FEMA's catastrophe bonds and reinsurance tower for the National Flood Insurance read the full article →

FedNat expects reinsurance recoveries for hurricane Ida

U.S. primary insurance carrier group FedNat Holding Company is anticipating reinsurance recoveries will help to minimise the impacts to its business from hurricane Ida, resulting in a net impact to the company less than its retention. Both of FedNat's core insurance underwriting carrier subsidiaries, FedNat Insurance Company and Maison Insurance Company, read the full article →

Hurricane Ida insurance market loss could reach $21bn: CoreLogic

Insurance and reinsurance market losses from hurricane Ida could reach as high as $21 billion, according to analysis from data and analytics company CoreLogic. CoreLogic has provisionally pegged the insurance industry loss in a range from $14 billion to $21 billion, which includes insured damages caused by wind, storm surge and read the full article →

Catastrophe bonds marked down on hurricane Ida threat

A number of catastrophe bonds have been marked down in end of month secondary market pricing sheets, with some of the anticipated names suffering declines of between 25% and 35% in value. After hurricane Ida's devastating landfall with 150 mph winds in Louisiana on Sunday it was always anticipated that there read the full article →

Hurricane Ida insured losses close to $18 billion: KCC

The insurance and reinsurance market loss from hurricane Ida is estimated to be close to US $18 billion, according to modelled analysis from catastrophe risk specialist Karen Clark & Company. As ever, Karen Clark & Company is the first out of the gates with an official modelled industry loss estimate for read the full article →