hurricane Nate 2017

Catastrophe risk modelling specialist, CoreLogic, has provided a preliminary insured and uninsured loss estimate from the impacts of hurricane Nate of up to $1.35 billion, with the majority coming from wind damage to residential properties.

Catastrophe risk modelling firm RMS has said that it does not believe that the insurance and reinsurance industry will face any more than $500 million of losses from recent hurricane Nate’s wind and coastal flooding on the U.S. Gulf Coast.

Catastrophe risk modelling firm Karen Clark & Company has estimated that the insurance and reinsurance industry could face a $500 million industry loss from hurricane Nate’s weekend impacts.

Hurricane Nate made landfall on the U.S. Gulf Coast as a Category 1 storm with sustained winds of around 85 mph over the weekend, which has the potential to exacerbate losses for some insurance and reinsurance firms, but overall is expected to be a relatively small event, compared to other recent hurricanes.

Hurricane Nate remains on course for the United States Gulf Coast, where forecasts predict it will make landfall as a strong hurricane. Nate currently has 90 mph winds and higher gusts, with central pressure of 982mb (at 06:00 PM UTC Oct 7th), and the storm could intensify further before landfall somewhere from Louisiana to Florida.

Updated information on now hurricane Nate can be found here. Tropical storm Nate is set on a course towards the United States, where forecasts predict it will make a Gulf Coast landfall as a hurricane. It’s uncertain how strong or where the landfall could be, but sea temperatures in the Gulf remain conducive to some […]