Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage.
Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler Karen Clark & Co. said.
Moody’s Ratings said Francine’s losses on insures will be readily manageable. Primary insurers will retain most of the losses from the hurricane, the ratings agency said, adding that regionally focused carriers will be most affected.
Related: Estimates Put U.S. Damage and Loss from Francine at $9B with $1.5B in Insured