19 September 2017Insurance

Hurricane Maria targets Puerto Rico

Hurricane Maria, the second major storm to hit the Caribbean this month, crept toward the US Virgin Islands and Puerto Rico after it ripped through the small island nation of Dominica, causing widespread devastation, according to a Reuters report.

Downgraded to a Category 4 early on Tuesday, Sept. 19, Maria remained an “extremely dangerous hurricane” as it churned about 235 miles (380 km) southeast of St. Croix, the National Hurricane Center (NHC) said in an advisory.

Maria is likely to affect Puerto Rico as an extremely dangerous major hurricane, according to the NHC. The potential for a life-threatening storm surge, accompanied by large and destructive waves, has increased for the Leeward Islands, the Virgin Islands, and Puerto Rico. Life-threatening flash floods and mudslides from heavy rainfall are expected.

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More on this story

19 September 2017   As Hurricane Maria follows a similar path as Hurricane Irma that hit Florida on Sept. 10, investors are discounting book value hits on property/casualty stocks that are worse than the losses so far seen in the hurricane season, Credit Suisse said in a Sept. 18 analyst report.
20 September 2017   Hurricane Maria is set to hit the same Caribbean/Puerto Rican insurers which have already been impacted by Hurricane Irma, AM Best said in a Sept. 19 report.
21 September 2017   Hurricane Maria took direct aim at Puerto Rico on Wednesday, Sept. 20, thrashing some islands already left in ruins by Hurricane Irma, and razing areas that had previously escaped damage, according to catastrophe modelling firm AIR Worldwide.