Hurricane Laura losses could further stress insurers' 2020 earnings

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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">The US Gulf Coast was set for a rare double hurricane event within a 48-hour period. Although Hurricane Marco caused more limited damage, Hurricane Laura has strengthened substantially and very quickly, and is now drawing comparisons to Hurricanes Rita and Harvey, and to a lesser extent Katrina, due to its timing in late August and expected landfallcurrently around the Louisiana/Texas border, similar to Rita in 2005. In addition to strong winds, storm surge and river flooding may have devastating effects dozens of miles inland, with potential isolated tornados. Inland flood risk is possible as far north and east as Arkansas and the Ohio and Tennessee valleys.</abstract>
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