The Hurricane Ida post-event report comprises the following sections: Updated Insured Loss Estimate Updates Regional Impacts Notable Impacts by Peril Additional implications for the Insurance Industry Key Dates in the Timeline of Hurricane Laura This second Post Event Report on Hurricane Ida is focused on the widespread damage across the Mid-Atlantic and ... Continue Reading »
United States
Live Event: Ida Hits Eastern U.S. with Extreme Flooding and Severe Thunderstorm Activity
Live Event: Ida Hits Eastern U.S. with Extreme Flooding and Severe Thunderstorm Activity Key Ida Headlines Exceptional Mid-Atlantic Flooding: Both in terms of hourly rainfall rates as well as daily rainfall totals, Ida brought extreme, and in some cities, record setting rainfall to the Mid-Atlantic yesterday. Wide swaths of Pennsylvania, New Jersey, New York and ... Continue Reading »
Major Hurricane Ida to Make Landfall Within Hours, Dangerous Impacts Expected
Key Headlines Severe Hurricane Status: Ida has undergone rapid intensification and strengthened into a severe category-4 hurricane. Ida has a well-defined eye and circulation, and is approaching status as a category-5 hurricane. Ida is now the strongest hurricane of the Atlantic Hurricane Season thus far, and the second major hurricane of the 2021 Atlantic Hurricane Season ... Continue Reading »
Hurricane Ida Threatens Louisiana Coast with Category-4 Landfall
Key Headlines Escalating Threat: Hurricane Ida is now expected by the National Hurricane Center (NHC) to make landfall over southeast Louisiana as a category-4 hurricane, with maximum sustained winds prior to landfall of 140 mph. Forecast storm surge is now in the range of 10-15 feet. Significant Strengthening Expected: After landfall over Cuba, Ida has since ... Continue Reading »
Live Event: TS Grace to Impact Yucatan as a Hurricane
TS Grace to Impact Yucatan as Category 1 Hurricane, Atlantic Active with Three Storms Key Headlines Stronger Grace Results in Hurricane Watch for the Yucatan Peninsula: A track further south has resulted in less disruption to Grace while passing south of Hispaniola. After passing over Jamaica today, conditions are favorable for intensification into a category 1 ... Continue Reading »
Live Event: Elevated Likelihood of Upper Midwest Severe Wind Event
Key Headlines: The Storm Prediction Center (SPC) has flagged a widespread area of Moderate risk (level 4 out 5) through Thursday morning across the Upper Midwest, including much of the state of Wisconsin. Moderate risk issuance is relatively rare, occurring approximately ten times a year. From a timing standpoint, storms are expected to develop across northern ... Continue Reading »
Guy Carpenter Announces Two Senior Appointments at GC Access
Guy Carpenter announced the appointments of Matt Petka as Managing Director and Riley Underwood as Senior Vice President within its GC Access business unit, with immediate effect. GC Access provides dedicated MGA program business solutions. The unit offers a range of services to carriers and MGAs operating in the dynamic program market, including carrier and reinsurance ... Continue Reading »
CAT-i Bulletin: Severe Hail Activity – U.S. Southern Plains April 28
Severe thunderstorms on April 28 produced heavily clustered hail reports in the U.S. Southern Plains. Significant hail of two inches diameter or more was reported, especially in Texas and Oklahoma, with some reports of destructive hail of up to four inches diameter. Impacts are apparent in the areas of San Antonio, Dallas-Fort Worth and Oklahoma City. The activity was initiated ... Continue Reading »
Tailoring the Community-Based Catastrophe Insurance Program to the Needs of the Community
The first step in the iterative five-part process that can guide communities as they consider implementation of a community-based catastrophe insurance (CBCI) program, is “Defining the Need or Problem” that the community is trying to solve. ... Continue Reading »
Reinsurance Resilience: Private Market Capital
While concerns regarding the selective appetite of private markets for backing catastrophic risk have unfolded in areas with large losses in recent years, the reinsurance market has become well-versed at overcoming major losses and has navigated a number of capital challenges following major disasters, such as the September 11 attacks, Hurricane Katrina, and the succession of ... Continue Reading »
