hurricane Florence 2018


FedNat won’t tap reinsurance for hurricane Florence losses

U.S. primary insurer FedNat does not expect that it will be able to tap into its reinsurance program to help it pay for losses from hurricane Florence, as the company only expects a minor hit to its operations in South Carolina. FedNat does not operate in North Carolina, where the impacts read the full article →

Florence saw less ILW and live cat activity than other recent storms

Activity in the market for live cat (live catastrophe) trading and protection buying was lighter for hurricane Florence than other recent storms, in terms of volume traded, but some ILW trades were completed as the storm approached. Compared to other recent storms, such as the 2017 hurricanes Harvey, Irma and Maria, read the full article →

Hurricane Florence loss only $2.5bn (ex-NFIP), says Karen Clark & Co.

According to catastrophe risk modelling specialists Karen Clark & Co. the insurance market loss from hurricane Florence is likely to be only around $2.5 billion, based on privately market wind, storm surge, and inland flooding damage to residential, commercial, and industrial properties as well as automobiles. The $2.5 billion private market-wide read the full article →

Reinsurance & ILS market share of Florence loss likely minimal: Analysts

Traditional reinsurance and alternative or insurance-linked securities (ILS) markets are only expected to take a small share, perhaps just a maximum of 15% to 20% of the overall industry-wide losses from hurricane Florence, although that could help to reduce some price pressure, analysts suggest. Analyst Amit Kumar at Buckingham Research evaluated read the full article →

Cat bond index only fell 1.15% on hurricane Florence threat

The catastrophe bond market remained relatively stable under the threat from hurricane Florence, with one of the main indices used to track the value of outstanding cat bonds only registering a 1.15% decline at the end of the week. The Swiss Re Cat Bond Index only ended the week down at read the full article →

Hurricane Florence’s 1,000 year rains flood the Carolina’s

Hurricane Florence impacted the Carolina's right through the weekend, with a damaging storm surge, hurricane or tropical storm force winds and feet of torrential and prolonged rainfall that has severely flooded the region. Hurricane Florence was destined to be more of a water threat than wind after the storm weakened before read the full article →

Was NFIP’s FloodSmart Re cat bond sold at 80 on Florence threat?

As we explained earlier today, a handful of catastrophe bonds are changing hands due to the threat from hurricane Florence and now for the first time the National Flood Insurance Program's recently issued $500 million FloodSmart Re Ltd. (Series 2018-1) cat bond appears to be among them. Update: It was confirmed read the full article →

Model mean projects $3bn to $3.5bn wind loss from Florence

The leading catastrophe risk modellers have been furnishing their clients with projections for the potential impacts to the industry from hurricane Florence and according to various data sources the mean for wind insured losses appears to sit in the $3 billion to $3.5 billion range. With hurricane Florence currently making landfall read the full article →

Hurricane Florence re/insurance losses will be manageable: S&P

Rating agency Standard & Poor's said that it expects that industry losses from hurricane Florence will be manageable, with no significant impacts to insurance and reinsurance interests. While "material insured losses" are expected from hurricane Florence, which is right now pounding the North Carolina coast, the hit to the industry is read the full article →

Hurricane Florence wind & surge insured loss potential put at $3bn to $5bn: Corelogic

Hurricane Florence could result in between $3 billion and $5 billion of insured wind and storm surge losses, according to analysis by risk analytics firm Corelogic. The data analysis shows that insured property losses for both residential and commercial properties from hurricane Florence, which is currently pounding the North Carolina coast, read the full article →