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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

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 Michael pass $5bn in Florida

Michael made landfall on the Florida Panhandle on October 10, 2018 as a category four storm
North America Hurricane Season

Hurricane Michael insured losses surpass $4.65bn in Florida

More than 134,000 claims have been filed in the state
Hurricane Season Losses

Hurricane Michael payouts pass $4.5bn in Florida

Storm is expected to result in a $10bn industry impact

Losses United States

First hurricane forecast for 2019 suggests below-average activity

Tropical Storm Risk forecasts 12 named storms and five hurricanes in the Atlantic basin in 2019

North America Hurricane Season

Reinsurance eases the pain for Japan's mega-insurers

International reinsurers face sizeable losses from this year’s Japanese catastrophe events

Japan Casualty

Retro holds the key to renewals

Market waits to gauge alternative appetite following losses
Bermuda Casualty
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