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The Insurance Insider US news team discusses the five biggest issues it is watching as we enter the Q2 earnings cycle. -
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The losses come ahead of an expected active Atlantic hurricane season.
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The biggest losses were from wind damage after the storm’s Texas landfall.
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Uncertainty around the quantum remains due to policy deductible variation.
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Insurers' losses will likely be low and readily absorbed by their earnings.
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The insured loss from Beryl in the US was pegged at $2.7bn.
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The fund is expected to make payments of just over $75mn due to the Category 5 event.
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Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.
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Houston Mayor John Whitmire said: “We woke up this morning on the dirty side of a dirty hurricane.”
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Beryl has been downgraded to a tropical storm but is still life-threatening, with news media reporting two deaths so far.
