On Friday, Hurricane Harvey developed into a Category 4 and made landfall near Rockport, Texas. In addition to direct losses, the storm is causing heavy rainfall and storm surge-related losses along coastal Texas, according to GlobeSt.com's sister publication, ALM's Property Casualty 360.
In the article, the publication writes that while the exact cost of insured damages will take some time to quantify, primary insurers will face the largest effect from Harvey, with regionally focused carriers most vulnerable given their geographic concentrations, Moody's Investors Service said in a statement Monday morning. “The Southeast is a peak catastrophe zone in the U.S. for reinsurers, and those with exposure to Texas are at risk of incurring meaningful losses, although we expect those losses to be manageable relative to earnings,” Moody's added.
Moody's then identified the top 10 Homeowners' and commercial property insurers in the Lone Star State, listed by direct premiums written. Check out the full article to see the complete list and to see what Moody's expects these large national carries to be dealing with ahead.
On Friday, Hurricane Harvey developed into a Category 4 and made landfall near Rockport, Texas. In addition to direct losses, the storm is causing heavy rainfall and storm surge-related losses along coastal Texas, according to GlobeSt.com's sister publication, ALM's Property Casualty 360.
In the article, the publication writes that while the exact cost of insured damages will take some time to quantify, primary insurers will face the largest effect from Harvey, with regionally focused carriers most vulnerable given their geographic concentrations, Moody's Investors Service said in a statement Monday morning. “The Southeast is a peak catastrophe zone in the U.S. for reinsurers, and those with exposure to Texas are at risk of incurring meaningful losses, although we expect those losses to be manageable relative to earnings,” Moody's added.
Moody's then identified the top 10 Homeowners' and commercial property insurers in the Lone Star State, listed by direct premiums written. Check out the full article to see the complete list and to see what Moody's expects these large national carries to be dealing with ahead.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
