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

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

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

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.

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

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.

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Uncover exclusive insights tailored for insurance leaders

Topics

IGI Q1 CoR drops 4.3 points to 74.1% fueled by UW income gains, lower losses

Stone Point elevates president Carey to co-CEO

R&Q co-founder Quilter to resurface at Augment

Coface takes WTWs Morrison as head of financial institutions UK and Ireland

Maiden Holdings enters renewal rights agreement with AmTrust

Atrium 609 maintains 2021 YoA forecast

London P&I Club names NorthStandard’s Bean as incoming CEO