KCC puts Hurricane Isaias insured losses at $3bn, within the range of other modellers

Karen Clark & Company (KCC) estimates that Hurricane Isaias caused $3bn of privately insured losses in the US from wind and storm surge, Reinsurance News reported on 15 October. The modeller used its US Hurricane Model.

The estimate takes in residential, commercial and industrial property, vehicles and business interruption. Boats, offshore property and claims covered by the National Flood Insurance Program are outside it. KCC said coastal towns in the Florida Panhandle, where the storm came ashore at Destin as a Category 2 hurricane, had the worst damage.

KCC's figure sits inside the range other modellers have given, according to the publication: Verisk put onshore insured property losses at $1bn to $2bn, Cotality at $2bn to $3bn and Euler ILS Partners at $2bn to $4bn.