Risk Management Solutions (RMS) has estimated that insured losses from Hurricane Rita are likely to range from $4 to $7bn.
The RMS estimate said that $3bn to $5bn of losses would be from onshore damage resulting from wind, storm surge, and rainfall-related flood hazards. A further $1bn to $2bn in losses would be the result of offshore platform damage and loss of production.
RMS said the preliminary estimate excluded the New Orleans flooding situation that erupted over the weekend.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
