hurricane irene

Risk Management Solutions (RMS) have published an estimate of insured losses resulting from the recent hurricane Irene. Their estimate only includes wind and surge impacts covering both the U.S. and Caribbean, so doesn’t include any inland flooding from heavy rainfall or any National Flood Insurance Program losses from surge and rain.

It’s time for another of our regular quick looks at the Swiss Re Cat Bond Performance Indices to see how their performance reflected the mood and state of the catastrophe bond and insurance-linked securities market over the last fortnight. When we last looked both of the indices had dropped due to nervousness caused by a major […]

The catastrophe bond market experienced strong secondary trading as hurricane Irene approached, according to Bill Dubinsky, Managing Director, Willis Capital Markets & Advisory in this article from AM Best. Secondary trading picked up as the storm approached allowing buyers and sellers (both investors and speculators we imagine) to trade into and out of the market […]

We’ve spoken with a number of fund managers in the last two days to gauge their opinions as to their funds exposure to losses due to the impact of hurricane Irene. Irene, was the first hurricane of the 2011 Atlantic Hurricane Season and struck the U.S. coast at North Carolina before impacting New York, New […]

Ratings agency Standard & Poor’s has published a report discussing the impact of hurricane Irene to re/insurers. They conclude that Irene will have a limited impact to re/insurers but as part of the overall losses suffered this year Irene is likely to play a part in the continuing upward pressure on rates. Whether that pressure […]

Risk modelling firm AIR Worldwide have released an estimate for insured losses to U.S. onshore properties from hurricane Irene. They expect the final bill to be somewhere in the $3 billion to $6 billion range for re/insurers. This estimate includes wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, […]

While hurricane Irene resulted in losses and damages in six of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St. Kitts & Nevis and the Turks & Caicos Islands), the damages were not severe enough to trigger any payments under the terms of their CCRIF policies. The […]

It’s two weeks since we last looked at the Swiss Re Cat Bond Performance Indices, so it’s time to see how their performance reflected the mood and state of the catastrophe bond and insurance-linked securities market over the last fortnight. As expected, both the price and total return indices have suffered a significant drop as […]

Hurricane Irene weakened sufficiently both prior to landfall in North Carolina and as she moved up the U.S. coastline to significantly reduce the potential for insured losses from the storm. Early estimates from risk modelling firms EQECAT and Kinetic Analysis both suggest that insured losses of up to a maximum of $3 billion will be […]

It’s clear now that hurricane Irene will come very close to New York city and that on her passage to the north she will affect many of the major northeast U.S. population centres. Hurricane Irene is a Category 1 storm with maximum sustained winds of 80mph. By the time she reaches the New York area […]