Reinsurance

Catastrophe modeler Eqecat says the U.S. can expect $1.5 billion to $2.8 billion in insured losses from Hurricane Irene.

Rating agency Standard & Poors says it does not expect Hurricane Irene to affect the industrys creditworthiness and it expects few, if any rating changes as a result of the storm.

Catastrophe modeler AIR Worldwide says it expects between $3 billion and $6 billion in insured losses in the U.S. from Hurricane Irene.

Confusion and clarifications surround reported initial insured-loss estimates from catastrophe modelers following Hurricane Irene.

Hurricane Irene, by itself, will not impact pricing in the property and casualty insurance industry, but it will add to a growing list of events that could combine to put some pressure on the market.

The insurance industry performed poorly for the first half of this year primarily due to an unprecedented level of catastrophes and while the results may point to premium price increases, other factors may keep a lid on them.