The Friday Five: Week of September 2, 2019

by Jen Smoldt on September 5, 2019

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If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Quote of the Week:

“To say we dodged a bullet for the storm [Dorian] would be an understatement — you know, obviously we dodged a missile.” -George Recktenwald, Volusia County Manager, commenting on how Florida narrowly escaped major damage

  1. Floridians are counting their blessings...Hurricane Dorian skirted the northeastern coast of the state this week, bringing heavy rain, strong winds and power outages--but no major damage as originally forecasted. 
  2. Tornadoes in the Carolinas… Dorian spawned tornadoes on Thursday in two states and threatened a whole day of fierce weather along the Carolinas' shores. Now we wait to know the damage. Here's the latest Dorian updates for P&C insurers...
  3. Bahamas “decimated” by Dorian...Entire neighborhoods were wiped out when Dorian barely budged—sitting over the Bahamas for nearly 2 days: “Parts of Abaco are decimated. There is severe flooding. There is severe damage to homes, businesses, other buildings and infrastructure,” said Bahamas Prime Minister Hubert Minnis.  
  4. Loss estimates rolling in...Preliminary estimates put Bahamas’ insured losses from Hurricane Dorian at $7 billion according to Karen Clark & Company who reports that Dorian will “go into the history books” as having produced the “most intense wind speeds over land and for the longest duration.”
  5. Shocking imagery of Bahamas...Aerial imagery shows the the sheer devastation Hurricane Dorian inflicted on Marsh Harbour, the largest town on Great Abaco Island.  

Missed last week’s Friday Five? Check it out here.  

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Topics: catastrophe risk management, hurricane risk

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