RMS Estimates $31– $44B Losses From Ida
RMS estimates total onshore and offshore U.S. insured losses from Hurricane Ida to be between US$31 and US$44 billion, and with the island being home to many of the world’s top re/insurers it is expected some will be paying claims,
“The estimate builds upon the earlier industry loss estimate of US$25-$35 billion for the Gulf of Mexico region, to include inland flooding impacts in the Ohio Valley, Mid-Atlantic, and Northeast U.S. regions. RMS estimates US$6–$9 billion in insured losses from precipitation-induced flooding in the Atlantic states in this event,” the company said.
“The majority of the insured flood losses in the Ohio Valley, Mid-Atlantic, and Northeast U.S. –between US$4.5 and US$7.0 billion, will be to the private market, with an additional US$1.5–$2.0 billion to the National Flood Insurance Program [NFIP].
“Total U.S. onshore and offshore insured loss estimates for Hurricane Ida [US$ billions]:
