RMS®, the world’s leading catastrophe risk solutions company, estimates onshore and offshore U.S. insured losses from Hurricane Ida in the Gulf of Mexico to be between $25 and $35 billion. The estimate includes losses to the National Flood Insurance Program (NFIP) in the four impacted Gulf Coast states (Alabama, Florida, Louisiana and Mississippi) in the… Continue reading RMS Estimates $25–$35B in Onshore and Offshore Insured Losses in the Gulf from Hurricane Ida
Tag: insured losses Hurricane Ida
Hurricane Ida Losses Likely Short of Katrina Totals, Could Hit $25B
Preliminary loss estimates from Hurricane Ida approach $25 billion, but should remain well below what the U.S. Gulf Coast saw in August 2005 when it was devastated by Hurricane Katrina. While Ida is expected to generate significant economic and insured losses in Louisiana, it is “unlikely to trigger ratings downgrades of individual property and casualty… Continue reading Hurricane Ida Losses Likely Short of Katrina Totals, Could Hit $25B