Ida’s increased complexity puts the loss into the $30bn+ range
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Ida’s increased complexity puts the loss into the $30bn+ range

Fiona Robertson, 
Rachel Dalton, Alex Frampton
22 September 2021
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New York City, USA. 01st Sep, 2021. Members of the FDNY wade through waist high water caused by flash flooding brought by the remnants of hurricane Ida, in the New York City borough of Queens, NY, September 1, 2021. More than three inches of rain fell per
Photo: Alamy Live News

As modelled loss figures for Hurricane Ida rise, so too are market expectations for the loss as its complexity has grown, with general expectations now around the $25bn-$35bn mark and a bias towards the $30bn+ range.

Initial expectations for the Ida market loss were closer to $20bn-$25bn, with various initial picks still in the teens, but since then the market is now adding on roughly $3bn-$5bn for private flood losses from Ida’s northeast deluge.

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