Florence becomes category 4 hurricane as it nears US
Florence has become a category 4 hurricane on Monday, Sept. 10 as it heads towards the US coast with maximum sustained winds near 195 km/h (130mph), according to the US National Hurricane Center.
Hurricane Florence was earlier predicted to make landfall in the Carolinas on Friday, with North Carolina the most likely landfall target, according to RMS. If this forecast holds, Florence will be the strongest hurricane to make landfall over North Carolina since Hazel in 1954 – this would be a major event for the insurance industry, RMS said.
As with all hurricanes of this intensity, Florence poses significant impacts due to damaging hurricane-force winds and coastal storm surge, but inland flooding is becoming an increasing threat. Forecasts include the possibility of Florence slowing down after landfall and causing as much as 20 inches of rain in the Carolinas. While very significant, this remains much lower than the amount of rainfall observed last year during Hurricane Harvey, RMS said.
Among insurers with the highest market shares in North Carolina and South Carolina are American Bankers Insurance Company of Fl, Hartford Insurance Company of MidW and Selective Insurance Company of SE, according to AM Best.
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