Property cat
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The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday. -
As it became clearer that the Fort Myers area was facing 150 mph winds, sources started to talk about loss estimates with a $30bn floor.
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The storm has sped up considerably over the past six hours.
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Research by sister title Inside P&C shows the top three homeowners carrier exposures by county for forecast highest impact areas.
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The dangerous storm is now projected to make landfall between Sarasota and Port Charlotte, Florida.
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New flexibility will enable top-performing syndicates to raise cat exposures under the Lloyd’s LCM 5 framework, without a penal increase in the required capital.
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Chief of markets Patrick Tiernan said the Corporation will also launch a disaster scenario exercise with the market, looking at China, Taiwan and the US.
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The storm is not expected to be a threat to the order of Jebi or Hagibis.
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This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.
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The storm was downgraded from super typhoon status ahead of landfall but was still the equivalent of a significant hurricane.
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Plus all the top news from the Monte Carlo Rendez-Vous and this week’s exclusive executive moves.
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Insurance Insider selects 10 exclusive news stories reported by our team on the frontline at Monte Carlo Rendez-Vous.
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