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27 August 2019Insurance

Aon: Tropical storm Dorian projected to become hurricane

Tropical storm Dorian is expected to become a hurricane with warnings in place for St. Lucia, according to the Aon cat report.

It became the fourth named tropical storm of the 2019 Atlantic hurricane season at the weekend prompting a tropical storm warning for Barbados; Martinique; St. Lucia; St. Vincent and the Grenadines, while a tropical storm watch is in effect for Dominica; Grenada and its dependencies; Saba and St. Eustatius.

With the potential for landfall high, the National Hurricane Center said that Dorian was expected to bring tropical storm conditions to portions of the Lesser Antilles on Tuesday. Hurricane conditions are possible in portions of the Windward Islands.

Dorian is expected to produce 3 to 8 inches of rainfall from Martinique to St. Vincent, including Barbados, with isolated totals as high as 10 inches in portions of the northern Windward Islands.

The risk of direct impacts from wind and rainfall has increased for Puerto Rico and Hispaniola, with the former still recovering from the 2017 hurricanes, which affected re/insurers and insurance-linked securities (ILS) market.

The Aon report said: “Any potential impacts from Dorian in the Bahamas and Florida later this week are highly uncertain, given the potential for the system to interact with the high terrain of Hispaniola.”

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More on this story

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27 September 2019   The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has paid out $12.8 million to the Bahamas Government for Hurricane Dorian that caused widespread devastation in the northern part of the country.
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27 August 2019   Aon has created a global Accident, Health & Life practice group in its Reinsurance Solutions business to help insurers take advantage of growth opportunities in the sector.
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19 August 2019   Broker Aon has appointed a new UK chairman of its reinsurance business.