Over the course of the last two weeks, Carrier Management and Insurance Journal have been reporting on estimates of insured losses from Hurricane Ian. Below is a summary of estimates announced by four risk modelers so far (listed chronologically).
Forecaster: CoreLogic
Date: 09/29/2022
Range or Estimate: $28-$47 billion
States, Perils Included: Florida Only; wind and NFIP + non-NFIP storm surge
Other Notes: Excludes demand surge
Related articles:
- Ian Insured Loss Estimates Rise: New High Over $60B (carriermanagement.com)
- Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates (insurancejournal.com)
Forecaster: KCC
Date: 09/30/2022
Range or Estimate: $63 billion
States, Perils Included: Onshore U.S. and Caribbean; Privately insured loss from wind, storm surge and inland flood
Other Notes: Includes demand surge, excess litigation; excludes NFIP, uninsured flood and wind
Related articles:
- Ian Insured Loss Estimates Rise: New High Over $60B (carriermanagement.com)
- KCC Estimates Near $63B in Hurricane Ian Insured Losses (insurancejournal.com)
Forecaster: Verisk
Date: 10/03/2022
Range or Estimate: $42-$57 billion
States, Perils Included: Privately insured losses from wind, storm surge and inland flood
Other Notes: Includes demand surge; excludes litigation, social inflation, NFIP
Related articles:
- Ian Insured Loss Estimates Rise: New High Over $60B (carriermanagement.com)
- Verisk: Up to $57B Insured Losses from Hurricane Ian (insurancejournal.com)
Forecaster: CoreLogic
Date: 10/06/2022
Range or Estimate: $31-$53 billion
States, Perils Included: All States: Wind, NFIP + non-NFIP storm surge, inland flood
Other Notes: Excludes demand surge and uninsured losses; range including uninsured losses is $41-$70 billion
Related articles:
- New and Revised Ian Loss Estimates, Images of Property Damage Published (carriermanagement.com)
- Insured Damages From Hurricane Ian $31-$53B: CoreLogic (insurancejournal.com)
Forecaster: RMS
Date: 10/07/2022
Range or Estimate: $53-$74 billion; best estimates $67 billion
States, Perils Included: Privately insured losses from wind, storm surge and inland flood
Other Notes: Includes demand surge, excess litigation; excludes NFIP, uninsured flood and wind
NFIP could add another $10 billion to range
Related articles:
- New and Revised Ian Loss Estimates, Images of Property Damage Published (carriermanagement.com)
- RMS Range of Insured Losses From Ian $53-$74B, ‘Best Estimate’ of $67B (insurancejournal.com)
Compiled by Carrier Management from modeling firm media statements
