Hurricane Isaias to drive $1bn+ insured & economic losses

07.08.2020 834 views
Economic and insured loss totals from the impact of Hurricane Isaias are each individually expected to surpass the $1 billion threshold, according to analysts at Aon. Isaias swept across the Caribbean over July 28th to August 1st with notable impacts in the Dominican Republic, Puerto Rico, and the Bahamas. It later tracked up parallel to the Florida Coast before landfalling in North Carolina on August 3rd as a Category 1 Hurricane with maximum sustained wind speeds of 85mph. Significant impacts were experienced along a large portion of the eastern seaboard, including historic storm surge, hurricane force wind gusts, flooding rainfall, and damaging tornadoes. Isaias became the second hurricane, and the fifth storm to make landfall in the US during the 2020 Atlantic Hurricane season. Across the Dominican Republic, landslides and downed trees were reported across multiple provinces, while 131 towns were isolated due to flooding of streams and rivers. Preliminary surveys indicated 1,119 damaged homes throughout the country, with the most significant damage reported in Hato Mayor. In Puerto Rico, at least 438,000 customers lost power and several river gauges were recorded at above flood stage after portions of the island received between 6 to 10 inches of rainfall. And similarly, in the Bahamas, there were widespread reports of power interruptions, downed utility lines, fallen trees, and flooding, as well as storm surge damage and substantial crop loss. Hurricane Isaias brought only minimal impacts as it tracked up the coast of Florida, but brought notable storm surge across portions of coastal South Carolina. Following this, the storm brought 2 to 4 inches of rainfall to North Carolina, as well as hurricane force wind gusts reaching 99 mph at Federal Point, and multiple confirmed tornadoes. A NWS damage survey reported dozens of destroyed mobile homes, along with multiple single-story homes – some of which were left unrecognizable – while flooding inundated roadways and stranded vehicles. Aon reports that the hurricane then moved up across Virginia, where similar levels of inland flooding were reported, before tracking across Maryland and Delaware, where it caused more flooding and minor wind damage. Beyond this, Isaias continued to cause minor disruption in Pennsylvania, New Jersey and New York as it weakened significantly, although power outages and downed trees were reported as far as Connecticut and New Hampshire. While Aon believes that the economic and insured loss totals from Isaias will both eventually surpass $1 billion, it warned that it remains too early to provide a more precise loss estimate, given that damage surveys across the Caribbean, US and Canada remain on-going. Source - https://www.reinsurancene.ws
18.05.2026

USA - USDA Rolls Out Livestock Insurance Program Enhancements as Producer Premiums Top $1.7 Billion

The USDA’s Risk Management Agency (RMA) on Monday is announcing a sweeping package of updates to its three flagship livestock insurance products — Livestock Risk Protection (LRP), Livestock Gross Margin (LGM) and Dairy Revenue Protection (DRP) — beginning with the 2027 crop year. 

18.05.2026

Puerto Rico - Department of Agriculture recommends farmers seek insurance protection against hurricanes

More than 4,000 farmers applied for agricultural insurance ahead of hurricane season in Puerto Rico.

18.05.2026

Bangladesh - Sunamganj farmers face cattle feed crisis after haor crop loss

Farmers and cattle rearers in Sunamganj’s haor region are facing growing uncertainty over livestock feed following heavy rainfall that damaged paddy crops and disrupted straw collection, the main source of cattle fodder.

18.05.2026

From farm risk to value chain resilience: Food system benefits of agricultural insurance

The global landscape of agricultural risk has been changing dramatically. More frequent and intense climate and economic shocks have become the norm.

18.05.2026

Sri Lanka - Govt. to provide compensation for weather-damaged crops through Agrarian Insurance Board

Compensation for crop damage caused by the recent adverse weather conditions will be provided through the Agricultural and Agrarian Insurance Board, the Deputy Minister of Agriculture and Livestock, Namal Karunaratne has stated.

18.05.2026

Nepal - Rain inflicts crop damage worth Rs 460 million in Kavrepalanchowk

Recent heavy rainfall caused agricultural losses worth hundreds of millions of rupees in two local levels of Kavrepalanchowk district, according to official estimates.

14.05.2026

ASF outbreak deepens uncertainty for Bhutan’s pig farmers

The ministry urged farmers to immediately strengthen farm biosecurity by restricting visitors, preventing contact between domestic and wild pigs, and ensuring that any kitchen waste fed to pigs is boiled and cooked for at least 30 minutes.

14.05.2026

More focus on early detection of Nesidiocoris

In Northern Europe, the predatory bug Nesidiocoris tenuis, commonly referred to as Nesi, presents a growing challenge for tomato growers.