Teresa Reynolds sits exhausted as members of her community clean the debris from their flood-ravaged homes at Ogden Hollar in Hindman, Ky., Saturday, July 30, 2022. (Credit: Timothy D. Easley/AP) Teresa Reynolds sits exhausted as members of her community clean the debris from their flood-ravaged homes at Ogden Hollar in Hindman, Ky., Saturday, July 30, 2022. (Credit: Timothy D. Easley/AP)

Although recent inland flooding has resulted in nearly 40 deaths and significant economic loss in areas of Kentucky, the events are expected to have a minimal credit impact on U.S. property and casualty insurers, Fitch Ratings reported. The events are also unlikely to affect the capital or earnings of individual insurers or reinsurers.

“Loss estimates for the recent individual flood losses in the U.S. are not yet available but would likely be considerably below the 2022 catastrophe reinsurance program attachment. Losses begin to cede to the reinsurance program when insured NFIP (National Flood Insurance Program) losses for an individual event reach $6 billion,” Fitch Ratings stated in a release.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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