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Debby should be a “very manageable” storm for the (re)insurance market, it said. -
A canvass of sources suggests that a $3bn-$5bn loss could tip the cyber market into unprofitable territory.
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Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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The NHC has said there is potential for “historic heavy rainfall” across southeast Georgia and South Carolina.
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It consisted of three major earthquakes within a nine-hour period on 6 February 2023.
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The ‘life threatening’ hurricane has potential for “historic heavy rainfall” in the southeastern United States.
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Everest Re bucked a more general trend to keep cat exposure stable.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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Securities class actions are a perennial source of claims for D&O insurers.
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Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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The firm said losses could fall under $300mn if more favourable assumptions were applied.
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The property market remains “one of the most favourable... I've seen in my career", he said.
