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Hurricane Season 2017: Harvey, Irma and Maria

  • The 2017 hurricane season saw three major hurricanes hit the US
  • Hurricanes Harvey, Irma and Maria caused insured damage of $80bn to $100bn
  • The storms will have a major impact on industry trends in 2018
 

 

ID Comment: This year's hurricanes are changing the psychology of the market – not just rates

The perception of risk is changing and in the long term may be the most significant after-effect of the 2017 Atlantic hurricane season
North America United States Property

Latest articles on hurricanes

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Hurricane Harvey: an unprecedented flood

  • Harvey made landfall in Texas in August 2017 as a category 4 hurricane
  • Record-breaking rainfall meant Harvey caused unprecented flooding
  • Insured loss estimates are estimated at $30bn but could still rise

 

Hurricane Irma: Florida's record-breaking storm

  • Hurricane Irma hit Florida in September 2017 and will potentially become the state's costliest storm
  • Claims have been reported across the state as a result of Irma, which is expected to cost insurers $30bn or more
  • Losses would likely have topped $100bn had Irma followed a track along Florida's Atlantic coast

 

Hurricane Maria: Devastation in Puerto Rico

  • Hurricane Maria hit Puerto Rico as a category 4 hurricane causing major devastation
  • A wide range of insured loss estimates are now converging around a $30bn damage bill 
  • Much of Puerto Rico remains without power months after the storm hit

 

Latest From Hurricane Season

Insured losses from Hurricane Irma near $8bn mark in Florida

More than 900,000 claims have been filed in the state

North America United States

ID Comment: Hurricanes no barrier to Japanese growth abroad

International expansion is just one sign of change in Japan’s insurance industry

Viewpoint Japan

Hurricane Maria: Slow recovery set to drive up restoration costs

Power outages, high humidity and struggle to get drying equipment onto Puerto Rico

North America Puerto Rico

ID Comment: What if Maria had cost $85bn?

There is value in re-evaluating 2017's hurricane events, and other major catastrophes, to understand what the loss could have been
North America Puerto Rico

Companies House: Cats, reserves and taxes dominate the US outlook

As US insurers start to report their full-year results, the scale of the catastrophic loss hit they face is just one of a number of issues in the spotlight
North America

Companies House: Reinsurers wait for full loss quantification

Major losses represented the defining issue for reinsurers in 2017 and the market continues to grapple with determining the cost and how it can respond

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