Moody’s RMS Event Response team has estimated that private market insured losses from Hurricane Francine will not exceed $2 billion, while losses to the National Flood Insurance Program are projected to be under $200 million. The majority of these losses are expected to occur in Louisiana, primarily due to wind damage, as the storm encountered significant wind shear before landfall which limited its intensity. Hurricane Francine made landfall on September 11 as a Category 2 hurricane with winds reaching 100 miles per hour, causing storm surges and heavy rainfall, but sparing major cities like New Orleans from severe winds. This event is anticipated to be manageable for the (re)insurance market amidst the active hurricane season.
