Insurance to cover ‘relatively small’ fraction of ~$7bn California flood losses

25-01-2023

Insurance to cover ‘relatively small’ fraction of ~$7bn California flood losses

Andrius Zemaitis / Shutterstock.com

Losses from the recent California flooding are expected to reach up to $7 billion, but only a “relatively small” proportion of the damage is expected to be covered by insurance, according to the latest estimates from Moody’s global catastrophe risk modeler RMS.


California floods, Insured losses, NFIP, Moody’s, RMS, Risk modelling, Natural catastrophe, Flood insurance, Protection gap, US

Intelligent Insurer