Storm insurance losses from Hurricane Florence may reach $5 billion

Storm insurance - Hurricane from space

North and South Carolina are still in only the earliest stages of gauging the wind and water damage. Analysts are beginning to attempt to determine what the storm insurance losses from Hurricane Florence will be, even at this early stage. Regions of both North and South Carolina are just getting started in determining the extent of the damage left behind by the massive Atlantic storm. Early estimates may not necessarily reflect final totals, but the industry is trying to get a hold of the numbers. Risk Management Solutions (RMS) has…

Read More

Hurricane Florence insurance losses will be within insurers’ ability to manage

Hurricane Florence Insurance - Storm Blowing in

Standard & Poor’s has predicted that the industry losses left by the storm will not have a significant financial impact. The Standard & Poor’s rating agency announced it doesn’t feel the Hurricane Florence insurance losses will be anything the industry cannot manage. Moreover, it forecasted that the insurance and reinsurance industries will not be significantly impacted by those losses. Despite the “material insured losses” left by the hurricane, the storm is not expected to harm insurers. The North Carolina coast was the first to be struck when the storm made…

Read More