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Losses will be 'similar or more' than the $1.5bn insured loss reported following Typhoon Hato last year
Estimate does not include impact of ongoing flooding related to the storm’s record-breaking rainfall
Putting a number on the insured loss in the immediate aftermath of an event is a virtually impossible task. The industry would be better served by seeking to understand the uncertainties around the event that drive the range of estimates that appear
Early indicators suggest a ‘manageable’ loss for the insurance industry, but widespread power outages and access challenges heighten potential for business interruption to be significant
Majority of losses expected to be incurred in Hong Kong
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