Hurricane Sally Could Drive $3.5B Industry Loss In US, Says RMS

 Thursday, September 24, 2020

 Reinsurance News

Catastrophe risk modeller RMS has estimated that total insured losses from Hurricane Sally in the US will be between $2.0 billion and $3.5 billion.

The estimate includes losses to the National Flood Insurance Program (NFIP) of between $400 million and $800 million.

The range compares with recent estimates from AIR Worldwide, who put Sally’s onshore losses at between $1 billion and $3 billion, and KCC, who settled for an onshore industry loss of $2 billion.

RMS said its estimate includes wind, storm surge, and inland flood losses across parts of the Gulf and Florida regions, with losses reflecting property damage and business interruption to residential, commercial, industrial, and automobile lines of business.