hurricane Sally 2020


FedNat expects agg reinsurance recovery for Delta, expands quota share

FedNat Holding Company, the U.S. primary insurance carrier group, has again said that it expects the latest hurricane to hit the United States will trigger a catastrophe reinsurance recovery for the firm, as losses from Delta are expected to exceed its aggregate retention. FedNat estimates that aggregate gross losses it suffers read the full article →

Hurricane Sally U.S. insured losses estimated up to $3.5bn by RMS

Catastrophe risk modeller RMS has estimated that total U.S. insurance and reinsurance industry losses from Hurricane Sally will be between $2 billion and $3.5 billion. This estimate, which includes wind, storm surge, and inland flood losses across parts of the Gulf and Florida regions, also includes losses to the National Flood read the full article →

Universal sees full retention losses for hurricanes Isaias and Sally

Universal Insurance Holdings, the Florida headquartered and expansive primary insurance carrier, has announced "full retention events" for both hurricane Isaias and hurricane Sally in the third-quarter of 2020, suggesting its reinsurance has been tapped for both storms. Late yesterday the insurer pre-announced catastrophe losses from the two hurricanes, which have impacted read the full article →

FedNat says hurricane Sally will trigger reinsurance recovery

FedNat Holding Company, the U.S. primary insurance carrier group, has warned that it expects its losses from recent hurricane Sally will trigger another hurricane-related reinsurance recovery for the firm. Just a fortnight ago, FedNat reported that hurricane Laura would trigger its reinsurance program, saying it estimated losses from that storm would read the full article →

Hurricane Sally losses estimated between $1bn and $3bn by AIR

The insurance and reinsurance industry loss estimates for recent hurricane Sally are coming in thick and fast, with catastrophe risk modeller AIR Worldwide now releasing an official estimate for insured losses of between $1 billion and $3 billion. AIR's estimate is based on industry insured losses to onshore property from damage read the full article →

Hurricane Sally insured onshore property losses said $2bn by KCC

Onshore property losses for the private insurance and reinsurance market from recent hurricane Sally are estimated at just $2 billion by catastrophe risk modeller Karen Clark & Company. The estimate released today includes private insurance market losses caused by wind and storm surge damage to residential, commercial, and industrial properties and read the full article →

Hurricane Sally expected to drive significant NFIP flood losses: A.M. Best

Hurricane Sally's extreme rainfall and storm surge are expected to drive significant insured losses for the National Flood Insurance Program (NFIP), putting its reinsurance panel and catastrophe bond investors on alert, according to A.M. Best. The rating agency said that the the U.S. Federal Emergency Management Agency's (FEMA) flood insurance program read the full article →

Hurricane Sally losses preliminarily estimated at $1.5bn to $3.9bn by AIR

According to our industry sources, a preliminary estimate of insurance and reinsurance market losses from hurricane Sally has been pegged at between $1.5 billion and $3.9 billion by catastrophe risk modeller AIR Worldwide. This is not an official, publicly announced industry loss estimate from AIR, we understand, with that expected to read the full article →

Hurricane Sally industry loss said in the low billions, ILS impact said slight

Hurricane Sally's late intensification before landfall yesterday is expected to mean that overall private insurance and reinsurance market losses from the storm reach into the low billions, with any impact to ILS positions expected to be minimal. As we explained just prior to hurricane Sally's landfall yesterday, the fact the hurricane read the full article →

Tremor sees higher live cat interest for hurricane Sally than with Laura

Tremor Technologies, the insurtech offering a technology-based programmatic insurance and reinsurance risk transfer marketplace, experienced higher activity in its live cat ILW marketplace yesterday for hurricane Sally, than it did a few weeks ago for Laura. The company launched a live cat industry loss warranty (ILW) marketplace for hurricane Sally yesterday, read the full article →