Losses from Hurricane Humberto will prove minor in insurance loss terms, coming in at well under $1 billion, according to loss modeling firms.
Their estimates arrived as a ninth storm, Ingrid, was formed in the Atlantic.
Risk Management Solutions in Torrance, Calif., said it does not expect that total estimated insured losses will exceed $500 million, and Eqecat in Oakland, Calif., said estimated “ground-up” damages, including monetized additional living expense, “are unlikely to exceed $1 billion from this event”–and impacts of deductibles and limits will reduce the “insured loss” to less than this.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
