Fitch: Ian insured FL losses $25-$40bn; NFIP reinsurer hit of $1.1bn possible

Fitch Ratings has placed insured losses from Hurricane Ian at $25bn to $40bn in Florida, with more losses possible in the Carolinas, with the rating agency warning that specialist insurers are “vulnerable” and suggesting reinsurers of the national flood program could be facing losses up to $1.1bn.