Insurers Uneasy Over Remaining Hurricane Season

Hurricane Hermine is likely to generate insured losses no greater than $500 million, a relatively low and certainly manageable figure, yet property/casualty carriers are by no means at ease, an industry analyst says. The $500 million figure was estimated Saturday by cat loss estimating and risk management firm Karen Clark & Company based on a forecast of more than 50,000 claims across Florida, Georgia and the Carolinas. A separate report from Keefe Bruyette & Woods analyst Meyer Shields called the expected losses “manageable” by the well-capitalized industry.