Hurricane Nicholas Insured Loss Around $950M: KCC

The insurance and reinsurance market loss from recent hurricane Nicholas is estimated to be around US $950 million, according to modelling analysis undertaken by catastrophe risk specialist Karen Clark & Company.

Karen Clark & Company (KCC) is again very quick to produce an industry loss estimate for hurricane Nicholas, a storm that only made landfall on September 14th.

As we explained the next day, BMS Senior Meteorologist Andrew Siffert explained that hurricane Nicholas could cause an insured loss similar to 2019’s tropical storm Imelda, at around $700 million.

Siffert was very close it seems, with KCC’s first estimate being for an industry loss of $950 million.

Hurricane Nicholas made landfall near Matagorda, Texas as a minimal Category 1 hurricane but soaked the region and into Louisiana as well.