Catastrophe: Moody’s RMS Evaluates Hurricane Francine Losses and Impact

Catastrophe Impact Assessment of Hurricane Francine

Moody's RMS Event Response has provided an estimate indicating that the private market faced insured losses from Hurricane Francine, which made landfall in Terrebonne, at no more than $2 billion. This revelation underscores the relatively moderate impact of the storm compared to expectations.

Key Findings

• Total Estimated Losses: Insured losses projected to remain below $2 billion.
• Geographical Impact: Focus on areas most affected by the storm.
• Insurance Sector Response: Insights into the industry’s handling of claims and risk management.

Conclusion on Future Preparedness

The findings will likely serve as a catalyst for refining risk assessment models and enhancing future preparedness against similar catastrophes.