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Harvey wind damage may reach $2.3bn: AIR Worldwide

Damage from Hurricane Harvey’s 130mph winds at landfall near Corpus Christi, Texas is likely to produce insured losses of $1.2bn to $2.3bn, including the storm surge of as much as 12 feet, AIR Worldwide forecast in an estimate that excluded flood damage from the storm’s drenching rains.

Ted Bunker, 29 August 2017
Harvey exposes NFIP faults, analysts and advocates say

Flooding in the Houston area from Hurricane Harvey’s torrential rains highlights key deficiencies of the National Flood Insurance Program (NFIP), according to analysts and reform advocates: inadequate flood zone maps and zero incentive to extend coverage outside those zones.

Ted Bunker, 28 August 2017
Harvey pounds P&C stocks as it inundates Houston

Harvey began battering insurers on Wall Street today as shares in several carriers with significant commercial exposure in Texas fell in early trading as the storm dumped torrential rains on the Houston area.

Ted Bunker, 28 August 2017
Flood loss estimates set to climb as Harvey inundates Texas

As Harvey continues to dump huge amounts of rain on Texas, sources are beginning to talk of an industry wind and flood insured loss in the region of $8bn, excluding National Flood Insurance Program (NFIP) claims.

David Bull, 28 August 2017
Focus on flood exposure as Harvey approaches Texas

With early projections of relatively modest wind losses from Hurricane Harvey on its current path, much of the industry’s attention is on assessing aggregations of flood exposure to the storm as it approaches the Texas coast.

David Bull, 26 August 2017
Ex-BMO banker O’Hanlon joins Conifer Holdings’ board

Former BMO Capital Markets managing director Isolde O'Hanlon has taken up a spot on the board of specialty insurance group Conifer Holdings.

Dan Ascher, 26 August 2017
HCI approved to write flood cover in South Carolina

Florida homeowners' specialist HCI Group has secured approval to write flood cover in South Carolina, the insurer announced today.

Dan Ascher, 26 August 2017
AM Best goes positive on American Strategic Insurance

AM Best has attached a positive outlook to its rating of Florida-based US homeowners insurer American Strategic Insurance Corp (ASI), citing the influence of its majority owner Progressive.

Dan Ascher, 26 August 2017
Karen Clark predicts Harvey wind losses of $2.7bn

Modelling firm Karen Clark & Company has predicted that wind damage from Hurricane Harvey, which is currently barrelling towards the Texas coast, could cost the industry $2.7bn.

Dan Ascher, 25 August 2017
RMS tips low level wind

Various scenarios modelled by RMS suggest that wind losses as a result of Hurricane Harvey are most likely to fall in the low single-digit billions.

Fiona Robertson, 25 August 2017

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