hurricane Nicholas 2021

Catastrophe risk modeller RMS has come out with a high estimate of insurance and potential reinsurance losses for recent hurricane Nicholas, pegging the range of industry loss as from $1.1 billion to as high as $2.2 billion.

The insurance and reinsurance market loss from recent hurricane Nicholas is estimated to be around US $950 million, according to modelling analysis undertaken by catastrophe risk specialist Karen Clark & Company.

In an update on hurricane Nicholas, the latest Gulf of Mexico tropical storm that intensified right up to making landfall and struck Texas yesterday, BMS Senior Meteorologist Andrew Siffert explained that Nicholas could cause an insured loss similar to 2019’s tropical storm Imelda, at around $700 million.

The fourteenth named storm of the 2021 Atlantic hurricane season, tropical storm Nicholas, continued to intensify off the Texas coast and eventually made landfall in the last few hours having strengthened into a Category 1 hurricane Nicholas, becoming the sixth hurricane of the season.