Re: Dorian Loss Under $10B
At the Reinsurance Rendevzous in Monte Carlo, most ratings agencies and reinsurers said Hurricane Dorian will result in an overall insured loss of less than $10 billion. Graham Coutts, director at Fitch Ratings, said the hurricane was “a significant event but not a large loss. But we do still have the rest of the hurricane season to run and another couple of months of that, so we could see some more major hurricanes.”
Karen Clark & Company is currently the only catastrophe risk modeler to have released an estimate of the total insured cost of Hurricane Dorian, putting the figure at approximately $5.2 billion. This reflects a $3.6 billion loss in the Caribbean and a $1.5 billion loss in the United States, as well as losses of $23 million in Puerto Rico and $84 million in the U.S. Virgin Islands.