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The NHC is predicting storm surge, exacerbated by the tide, as high as 15ft for Tampa Bay. -
A hurricane warning has been issued for the east coast of Florida.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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Reinsurance capacity is largely stable but that doesn’t mean discussions will be a smooth ride.
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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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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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Attendees concurred that they don’t expect the “Golden Age of E&S” to end anytime soon.
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An unexpected shift east towards Tampa could push losses beyond $10bn.
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Andrew Rowland will oversee the portfolio, offering up to $7mn per risk.
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Property rates had increased 25.5% one year ago, in Q2 2023.
