Property
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The figure does not include NFIP losses. -
Most of the estimated insured losses will be retained by insurers.
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The numbers will be refined further to arrive at an industry loss estimate.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
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‘Life-threatening’ storm surge and hurricane-force winds expected for the state, according to the NHC.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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A hurricane watch is now in effect for the Louisiana coastline.
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The carrier said European cat business needs further price improvement.
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Some Canadian cedants have approached the market for top-up cover.
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The US carrier abandoned the project due to high price expectations.
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