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The cat risk modeller’s estimate is well ahead of KCC’s $18bn, as RMS said infrastructure in the states impacted by Ida have “never experienced such a strong hurricane wind intensity”. -
The reinsurer warns that climate risks could increase average weather-related property cat losses in advanced markets by more than 60%.
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The broker expects ongoing single-digit growth within the ILS market.
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The fire has burned through more than 215,400 acres and spread across the counties of El Dorado and Amador.
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The ICA welcomed the step closer to clarity, after insurers lost the first BI test case over the interpretation of the Quarantine Act.
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The modeller excluded precipitation-induced flood losses from its estimate, which comes in above the $18bn from KCC.
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Megan Kempe is now based in Bermuda as senior vice president of emerging risks.
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The speciality residential and commercial house has a focus on earthquake, hurricane and flood risk.
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The carriers with the largest Louisiana market shares also ceded more than $100mn to Lloyd’s syndicates during 2020.
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She previously worked as VP underwriting for IAT insurance group, a Florida based property-casualty carrier.
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The reinsurer has also appointed Greg van der Made as treaty underwriter and David Cary as underwriting manager.
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The agency said its rated insurers were well positioned to absorb significant catastrophe losses, as they had generally experienced capital expansion over the previous 12 months.
