hurricane Eta 2020

Insurance and reinsurance broker Aon has said that hurricane Eta has likely caused around $550 million of insurance market losses in the United States, but its economic toll in Central America was significantly higher.

Having already received a $10.7 million payout under its parametric tropical cyclone policy after hurricane Eta from the CCRIF, Nicaragua has now also received a payout for a second Category 4 storm, hurricane Iota.

The Government of Nicaragua will receive a US $10.7 million payout after recent major hurricane Eta triggered its parametric tropical cyclone insurance policy with the CCRIF.

Tropical storm Eta is turning north and heading for the Gulf Coast of Florida, where the storm is expected to deliver a second soaking blow to the state, having caused flash flooding further south in its initial path.

Parts of Florida are now under a hurricane warning as tropical storm Eta continues its approach and is expected to strengthen as it makes a path for a forecast hurricane-force landfall in the Florida Keys, with the potential for a second impact for the state later this coming week as well.

The state of Florida is firmly in the cone of uncertainty for the soon to develop tropical system that emerges out of the remnants of recent hurricane Eta, as longer-range forecasts we discussed earlier this week now have an increasing chance of verifying.

Hurricane Eta is forecast to make landfall in Nicaragua, Central America early on Tuesday local time, with significant and catastrophic impacts likely. Further ahead, some of the weather models show hurricane Eta moving back into the Caribbean next week with a chance of the storm becoming a U.S. threat as it refuses to dissipate.