Hurricane Ida: London braced for biggest nat cat loss since 2017
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Hurricane Ida: London braced for biggest nat cat loss since 2017

Insurance Insider team
31 August 2021
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New Orleans, United States. 30th Aug, 2021. A building in downtown New Orleans, Louisiana is destroyed in the aftermath of Hurricane Ida on Monday, August 30, 2021. Power was out in the city but the levees held, Photo by AJ Sisco/UPI Credit: UPI/Alamy Liv
Photo: UPI/Alamy Stock Photo

Hurricane Ida is set to become the costliest nat cat event since 2017 with a potential loss range of $20bn-$25bn, as claims from a powerful storm system are amplified by factors including real inflation, demand surge and an adverse litigation environment.

For the London market, the Cat 4 hurricane could present a multi-line clash loss impacting not just property cat treaty, but also open market property, binders, energy and marine lines including cargo.

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Topics

News Property treaty Claims and losses
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