Aon: Tropical storm Dorian projected to become hurricane
Tropical storm Dorian is expected to become a hurricane with warnings in place for St. Lucia, according to the Aon cat report.
It became the fourth named tropical storm of the 2019 Atlantic hurricane season at the weekend prompting a tropical storm warning for Barbados; Martinique; St. Lucia; St. Vincent and the Grenadines, while a tropical storm watch is in effect for Dominica; Grenada and its dependencies; Saba and St. Eustatius.
With the potential for landfall high, the National Hurricane Center said that Dorian was expected to bring tropical storm conditions to portions of the Lesser Antilles on Tuesday. Hurricane conditions are possible in portions of the Windward Islands.
Dorian is expected to produce 3 to 8 inches of rainfall from Martinique to St. Vincent, including Barbados, with isolated totals as high as 10 inches in portions of the northern Windward Islands.
The risk of direct impacts from wind and rainfall has increased for Puerto Rico and Hispaniola, with the former still recovering from the 2017 hurricanes, which affected re/insurers and insurance-linked securities (ILS) market.
The Aon report said: “Any potential impacts from Dorian in the Bahamas and Florida later this week are highly uncertain, given the potential for the system to interact with the high terrain of Hispaniola.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
IGI CEO highlights ‘healthier’ insurance market as H1 results show growth
Research shows quarter of SMEs hit by crisis in 2018; risk of collapse increases
HDI hires new director of distribution for UK and Ireland
Argo Surety increases single bond capacity; reshuffles key people
CAC Specialty taps up new co-lead for its Financial Lines Practice
Feature: 10 ways insurers are using insurtech to drive new business
