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Rising sea levels and ocean warming were likely factors in Helene’s strength. -
The figure does not include NFIP losses.
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Brokers will only get more vocal on aggregate or secondary peril if Helene remains a retained loss event.
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Most of the estimated insured losses will be retained by insurers.
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Sources expect significant loss amplification in the claims that will come from Georgia, the Carolinas and Tennessee.
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The ruling is the latest in a series of ongoing legal wranglings over Covid-19 BI losses.
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The loss estimate covers Czechia, Poland and Austria.
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Key floods this year outside of the US include the Rio Grande do Sul.
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The numbers will be refined further to arrive at an industry loss estimate.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
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The Category 4 event will highlight the impact of recent market hardening.
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The ratings agency expects insured losses of around $5bn for Helene.
