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The agency added that conditions adding to losses after Jebi were not present today. -
Reinsurers are better positioned to face this storm from a financial point of view – to Florida state’s detriment – but how capital providers will react to a loss is the wildcard.
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In the more extreme of two scenarios, Ian could mimic 1921’s Tarpon Springs hurricane at a cost in the double-digit billions, BMS said.
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Fiona weakened to a tropical storm late last week but still brought torrential rain and high winds.
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The National Hurricane Center forecasts ‘considerable flooding’ in Florida later this week.
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Models are now showing a hurricane coming ashore on the west coast of Florida near Fort Myers on Wednesday at 08:00 EDT with winds of 115 mph.
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Tropical Depression Nine is expected to intensify to a Category 2 Hurricane as it nears the coast of Cuba next week.
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The storm may be “much more powerful” than Hurricane Sandy, which hit the Northeast US in 2012, wrote BMS Group’s Andrew Siffert in a commentary.
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The Island is also on hurricane watch as the storm moves north
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Many storm losses would be the result of flood, which is not covered by the standard homeowners’ policy.
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The storm is not expected to be a threat to the order of Jebi or Hagibis.
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The study will investigate pre-landfall hurricane formation and movement.
