Moody's estimates Hawaiian wildfires caused up to $6 billion in economic losses

Moody's RMS estimated up to $6 billion in economic losses from the devastating wildfires in Hawaii, with 75% of the losses to be covered by insurance, affecting various sectors including residential, commercial, industrial, automobile, and infrastructure assets.

cnn.com

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8/23/2023

5 things to know before the stock market opens Wednesday

### Summary 1. Nvidia stock futures are up as traders await the company's earnings report, with analysts predicting strong profit and revenue. 2. Retail stocks, including Dick's Sporting Goods, Macy's, and Foot Locker, suffered significant losses due to disappointing forecasts and falling sales. 3. UPS workers have approved a five-year labor deal that includes wage increases and improved safety precautions and schedules. 4. Amazon is requiring some employees to relocate to central office hubs, causing disruption and prompting some employees to quit. 5. The wildfires in Maui, Hawaii, resulted in economic losses estimated to be between $4 billion and $6 billion, making them the deadliest U.S. wildfires in over a century.

8/23/2023

Hawaii's economic toll from wildfires is up to $6 billion, Moody's estimates

Wildfires in Maui, Hawaii have caused an estimated $4 billion to $6 billion in losses for the local economy, including damage to insured properties and business interruptions, with rebuilding costs predicted to exceed $5.5 billion.

9/4/2023

Private market insured losses from Hurricane Idalia to be $3-5 bln - Moody's RMS

Private market insured losses from Hurricane Idalia are projected to be between $3 billion and $5 billion, with an additional $500 million in losses expected for the National Flood Insurance Program.

9/10/2023

Historic Disasters Fuel Insurance Woes, Leaving Homeowners With Soaring Costs and Shrinking Coverage

Deadly wildfires in Hawaii and a historic hurricane in Florida have caused significant damage and brought insurance risks to homeowners' attention, leading insurers to reconsider their risk exposure and potentially leave certain markets, creating an affordability crisis for insurance.

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Posted 8/22/2023, 11:18:00 PM

Moody's estimates Hawaiian wildfires caused up to $6 billion in economic losses

cnn.com

Relevant topic timeline:

8/23/2023

5 things to know before the stock market opens Wednesday

8/23/2023

Hawaii's economic toll from wildfires is up to $6 billion, Moody's estimates

9/4/2023

Private market insured losses from Hurricane Idalia to be $3-5 bln - Moody's RMS

Private market insured losses from Hurricane Idalia are projected to be between $3 billion and $5 billion, with an additional $500 million in losses expected for the National Flood Insurance Program.

9/10/2023

Historic Disasters Fuel Insurance Woes, Leaving Homeowners With Soaring Costs and Shrinking Coverage