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

Insured losses from Hurricane Idalia in Florida are estimated to be between $3 billion and $5 billion, with an additional $500 million in losses to the National Flood Insurance Program.

reuters.com

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8/30/2023

Latest market-sensitive news and views - Aug. 30

Hurricane Idalia's impact, including potential flooding and disruptions to gas prices and oil production, along with rising concerns about low-income Americans struggling with rent and food affordability, are among the key developments highlighted in today's news.

8/31/2023

Hurricane Idalia could become 2023’s costliest climate disaster for the US

Hurricane Idalia may become the costliest climate disaster in the US this year, with potential damages estimated between $9.36bn and $20bn, highlighting the increasing frequency and severity of weather-related events that are impacting the insurance and risk management industries.

8/31/2023

Florida-only insurers weather Hurricane Idalia amid market pullback

Florida-only insurers like Citizens Property Insurance expect less damage and fewer claims from Hurricane Idalia compared to previous storms, easing concerns of further market pullback, but industry experts still predict challenges for the insurance market and the possibility of increased premiums for customers.

9/12/2023

Record-Breaking Hurricane Pushes 2022 U.S. Billion-Dollar Disaster Tally to 23 and Counting

Hurricane Idalia became the 23rd billion-dollar weather disaster in the United States this year, surpassing the previous record set in 2020, highlighting the increasing frequency and cost of such catastrophes, which experts attribute to factors including climate change and ongoing development in disaster-prone areas.