Focus on flood exposure as Harvey approaches Texas

With early projections of relatively modest wind losses from
Hurricane Harvey on its current path, much of the industry's
attention is on assessing aggregations of flood exposure to the
storm as it approaches the Texas coast.
For insurers and their reinsurers, the initial wind-only loss estimates from RMS of
low single-digit billions - with only a small chance of an
impact above $6bn - look relatively modest.
But there is greater uncertainty over what is expected to be a
much...