Catastrophe Risks

Swiss Re has estimated total reinsured losses from Hurricane Ida at $28 billion to $30 billion, with its losses estimated at approximately $750 million. Hurricane IDA was the second-most intense hurricane on record to hit Louisiana and also caused extensive wind and flood damage across the Eastern and Mid-Atlantic United States. Read More

Risk modeling firm Karen Clark & Company has released a high-resolution US wildfire model that can be used to develop underwriting and pricing strategies that account for the impacts of climate change. The model captures the potential impact of climate change on the frequency and severity of wildfires. Read More

Catastrophe risk modeling firm RMS estimates total US insured losses from Hurricane Nicholas at between $1.1 billion and $2.2 billion. RMS said the estimate represents insured losses associated with wind, storm surge, and precipitation-induced flooding, including losses to the National Flood Insurance Program. Read More

While reinsurers are increasingly including the impacts of climate change in their decision making, they may be dramatically underestimating their exposure to climate risk, according to a new analysis. S&P Global estimates reinsurers may be underestimating their exposures to natural catastrophe risks by 33 percent to 50 percent. Read More

Insured losses resulting from Hurricane Nicholas should be close to $950 million, according to an estimate from catastrophe risk modeling firm Karen Clark & Company (KCC). The estimate includes privately insured damage to residential, commercial, and industrial properties and automobiles, according to KCC. Read More