Lloyd’s Of London’s Hurricane Payouts Reach $1.7B

The specialist Lloyd’s of London insurance and reinsurance marketplace has now paid out $1.7 billion in claims following hurricanes Harvey, Irma, and Maria. A couple of weeks into October and the Loyd’s market said it had paid claims worth $738 million from the three hurricanes, which devastated parts of the U.S. and the Caribbean in the third-quarter of 2017. Lloyd’s had previously announced that it expects an overall commitment of roughly $4.8 billion from the three events, meaning that so far, it has paid out somewhere around 35% of its expected hit from the windstorms.