hurricane Fiona 2022

The insurance and reinsurance industry loss from hurricane Fiona’s impacts in Canada in 2022 is now estimated at above C$800 million by Catastrophe Indices and Quantification Inc. (CatIQ), a 21% increase since its last estimate.

Insurance and reinsurance market losses from hurricane Fiona’s impacts in Canada are estimated at C$660 million by Catastrophe Indices and Quantification Inc. (CatIQ).

A hurricane warning has now been issued for Bermuda as major hurricane Fiona approaches the island, with conditions set to deteriorate as the storm passes just to the west.

Hurricane Fiona’s impacts in the Caribbean are expected to be a manageable insurance and perhaps reinsurance loss scenario, but the duration of business interruption related to the storm could drive insured losses higher, AM Best has said.

Hurricane Fiona has intensified since battering Puerto Rico and the Dominican Republic and has now become the first major hurricane of the 2022 Atlantic season. The Turks & Caicos Islands are now in its path and facing a damaging blow from the storm.

Hurricane Fiona has impacted Puerto Rico heavily with the island experiencing a historic rainfall event, as two-foot of rains are forecast from the storm, with locally maximum amounts of up to 30 inches warned.