Demand surge ‘wildcard’ in focus as London property market assesses Ida
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Demand surge ‘wildcard’ in focus as London property market assesses Ida

Catrin Shi
03 September 2021
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New Orleans, United States. 30th Aug, 2021. A brick wall on the side of the Little Gem Saloon collapsed during Hurricane Ida in downtown New Orleans, Louisiana, Monday, August 30, 2021. Power was cut off to the city and metro area but the levees held. Pho
Photo: Alamy Live News

London property underwriters are expecting another mid-sized loss from Hurricane Ida to add to the string of cat losses experienced by the sector, however sources have warned of the demand surge “wildcard” which could significantly amplify the final loss numbers far in excess of expectations.

Sources in the London market across property D&F and binders said it was still very early days to assess the damage from Ida, with communication with insureds on the ground extremely limited.

However,

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