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Sources expect at least $80mn-$90mn of insured losses stemming from the case. -
Rising sea levels and ocean warming were likely factors in Helene’s strength.
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The figure does not include NFIP losses.
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Sources expect loss amplification in claims from Georgia, the Carolinas and Tennessee.
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The numbers will be refined further to arrive at an industry loss estimate.
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Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
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The ratings agency expects insured losses of around $5bn for Helene.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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The NFIP has a higher take-up rate in Tampa Bay, which experienced record coastal storm surge.
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More than one million Floridians are without power after the storm hit.
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Additional strengthening is expected before Helene makes landfall in Florida tonight.
