tropical storm Barry 2019

Hurricane Barry estimates are coming in fact now, with the latest from Corelogic suggesting that the insured wind and flood loss will be from $300 million to as much as $600 million, excluding any claims for the NFIP.

Insurance industry loss estimates from recent hurricane Barry are not expected to exceed $500 million, both to private and public markets, with the NFIP set to take roughly half the total and a likelihood that primary insurers will bear the brunt, with little falling to reinsurance carriers.

Hurricane Barry’s impacts on Louisiana and the surrounding area are expected to result in an insurance and reinsurance market loss of around $300 million, not including any NFIP flood insurance losses, according to Karen Clark & Company (KCC).

Louisiana and the surrounding region faces a difficult few days as tropical storm Barry makes its final approach. The NHC said in its latest update that it still expects hurricane Barry by landfall in the coming hours, as the storm continues to intensify.

Tropical storm Barry has now formed in the Gulf of Mexico, the second named storm of the 2019 Atlantic hurricane season, and is forecast to bring long-duration, torrential rainfall and could intensify into a hurricane Barry by landfall.

Two of the main Atlantic hurricane forecasts have been kept almost static, one citing the slightly reduced chances of an El Niño influence during the season ahead, while at the same time a low pressure disturbance has a good chance of becoming tropical storm Barry in the Gulf later this week.