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“Unprecedented” 18 billion dollar US disasters already in 2021: NOAA

According to the latest data from the U.S. National Oceanic and Atmospheric Administration (NOAA), there has already been an "unprecedented" 18 billion dollar weather and climate disasters in the United States during the first-nine months of 2021. Scientists at NOAA’s National Centers for Environmental Information said that four of the billion read the full article →

Swiss Re expects $1.27bn hurricane Ida & Euro flood losses

Global reinsurance giant Swiss Re has provided preliminary estimates for its losses from two of the major catastrophe events of the summer months, while it says the industry loss from hurricane Ida is estimated at between $28 billion and $30 billion, while Europe's flooding is estimated as a $12 billion read the full article →

Ida reinsurance recoveries significant for some, backup cover likely needed

Information from sources suggests that some primary insurance carriers are likely to recover significant amounts from their reinsurance arrangements after hurricane Ida, while a number of insurers are likely to exhaust their reinsurance towers completely, and some catastrophe bonds remain exposed. We understand some brokers have been telling their clients just read the full article →

RMS lifts hurricane Ida estimate to $31bn – $44bn, adds northern flood losses

Catastrophe risk modelling firm RMS has now added a further $6 billion to $9 billion of insurance and reinsurance market losses to its industry estimate for recent hurricane Ida, adding the expected flood toll further north and taking the total estimate range to $31 billion to $44 billion. RMS' estimate is read the full article →

Hurricane Ida industry loss pegged at $32.2bn by Jefferies

Analysts at investment bank Jefferies said this morning that they estimate the insurance and reinsurance industry loss from recent hurricane Ida will be around $32.2 billion, taking the 2021 catastrophe loss year-to-date run-rate far above the average. August's catastrophe events, including hurricane Ida which was the largest of the year so read the full article →

AIR lifts top-end of hurricane Ida loss estimate to $30bn, to include floods

Catastrophe risk modeller AIR Worldwide now says that hurricane Ida will cost the insurance and reinsurance market between $20 billion and $30 billion, an estimate that now includes private market inland flood insured losses. AIR's first industry loss estimate for hurricane Ida was for the wind and storm surge impacts of read the full article →

Ida will be one of the costliest U.S. mainland hurricanes: Aon

Hurricane Ida is expected to become one of the costliest tropical storm impacts ever to affect the mainland United States, according to insurance and reinsurance broker Aon. The industry has been absorbing the reality of hurricane Ida over the last week or so, as industry loss estimates steadily rose and the read the full article →

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 →

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 →