Verisk Estimates Insured Losses for Hurricane Isaias Could Reach USD 2 Billion

Verisk's Catastrophe and Risk Solutions unit estimates insured industry losses to onshore property from Hurricane Isaias will range from $1 billion to $2 billion, with wind accounting for the vast majority. Isaias made landfall near Destin, Florida as a Category 2 hurricane with 105 mph sustained winds and a minimum central pressure of 971 mb, after peaking at Category 3 strength. The estimate excludes flood and NFIP losses, litigation and social-inflation effects, infrastructure, offshore assets, and loss adjustment expenses.

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