Hiscox forecasts $225mn in Harvey and Irma claims as rates rise

London-listed insurer Hiscox said the insurance market is
starting to harden, as it put the net cost of claims from
hurricanes Harvey and Irma at around $225mn.
The figure is based on Hurricane Harvey causing an insured loss
of $25bn and Hurricane Irma costing the insurance industry $35bn.
The catastrophe claims estimates exclude losses to the US National
Flood Insurance Program.
On 18 September it had pegged the impact ofHarvey alone at $150mn in net claims, which implies far...