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Experts have raised concerns over significant rainfall, record-setting storm surge and lingering Hurricane Helene debris. -
The “exceptionally large and powerful” Category 4 storm made landfall in Florida last month.
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Rising sea levels and ocean warming were likely factors in Helene’s strength.
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The figure does not include NFIP losses.
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Most of the estimated insured losses will be retained by insurers.
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The loss estimate covers Czechia, Poland and Austria.
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Key floods this year outside of the US include the Rio Grande do Sul.
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The biggest limitation to growth is supply, given ILS capital “reticence” after the 2016-22 years.
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Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature.
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The numbers will be refined further to arrive at an industry loss estimate.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
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The storm made landfall as a major hurricane in Florida’s Big Bend region.
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