Keyword
economic damage
Modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage compared to 1992’s US$26.5 billion: Swiss Re
August 9, 2017 by Canadian UnderwriterA modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage, up dramatically from the US$26.5 billion cost in 1992 dollars, according to a new report from Swiss Re. The hurricane in August 1992 destroyed more than 25,000…
Louisiana floods to cost U.S. economy between US$10-15 billion: Aon Benfield’s Impact Forecasting
September 8, 2016 by Canadian UnderwriterThe recent flooding in Louisiana is expected to cost the economy of the United States between US$10 billion and US$15 billion, with public and private insured losses expected in the low-digit single billions, according to Aon Benfield’s latest Global Catastrophe…
Hermine expected to have “modest” impact on P&C, cat bond markets: Fitch
September 8, 2016 by Canadian UnderwriterHurricane Hermine is expected to have a “modest” impact on the property and casualty and catastrophe bond markets, according to ratings agency Fitch Ratings. Insured losses for reinsurers from this event will also likely be limited, but Fitch said in…
Saturated ground means more rain could spur more flooding in southern Louisiana: AIR Worldwide
August 25, 2016 by Canadian UnderwriterAdditional rainfall could result in more flooding in southern Louisiana, already hit hard by extensive flooding associated with one of the state’s most catastrophic, non-tropical cyclone-triggered flood events in decades. “In the event of further rainfall, the region’s flat topography,…
Louisiana, Mississippi flooding could exceed US$1.5 billion in economic damage, insured portion will be much less: Impact Forecasting
August 15, 2016 by Canadian UnderwriterRecent flooding across parts of Louisiana and southern Mississippi could approach or possibly exceed US$1.5 billion in economic damage, Impact Forecasting suggested in a cat alert issued on Sunday. “Based on the volume of river crest records that have been…