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Catastrophe risk insights 

Not only are catastrophes becoming increasingly frequent and severe, their impact can trigger a cascade of interconnected risks. Delve into Moody's latest insights on recent catastrophic events.

Latest insights on catastrophe risk 

podcast

Jan 29, 2025

 Moody's Ratings
Legal liabilities cast shadow over Los Angeles utilities after devastating wildfires

While the initial financial cost of the wildfires will be manageable, potential legal settlements will likely cost billions.

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research

Jan 29, 2025

 Moody's Ratings
Delinquencies will rise for home mortgage securitizations with high LA wildfire exposure

Property damage and rising insurance costs pose risk to some residential mortgage securitizations. However, performance for auto- and utility-related securitizations will be stable.

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research

Jan 28, 2025

 Moody's Ratings
Insurers face high losses from California wildfires

Major risk modelers have put out estimates of insured losses, including losses to the California FAIR Plan, ranging from $20 billion to $45 billion.

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podcast

Jan 22, 2025

 Moody's Ratings
California's wildfires will reshape state’s insurance landscape

The damage from some of the worst wildfires in California's history will push more property owners toward the more expensive, state-backed insurance market and intensify cost-of-living pressures.

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announcement

Jan 17, 2025

 Moody's Ratings
Moody’s RMS Event Response estimates insured losses to date for the Los Angeles firestorm

The estimate reflects insured losses to date for the private market and California FAIR Plan from fire, smoke, and evacuation impacts from the five fires including the Palisades and Eaton Fires<

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research

Jan 17, 2025

 Moody's Ratings
Los Angeles wildfires pose biggest challenges for utilities, local governments and insurers

While the full extent of the destruction is unknown, the fires are likely to be credit negative across multiple sectors, constraining economic activity, and stressing housing and insurance markets. 

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blog

Jan 17, 2025

 Moody's Ratings
Live blog: Southern California wildfires

Keep updated with the latest information and insights from Moody's RMS Event Response and our wildfire experts.

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research

Jan 17, 2025

 Moody's Ratings
LADWP to face major liability risk if equipment linked to wildfire; no link found to date

Los Angeles Department of Water & Power, CA Power System serves the area ravaged by the Palisades fire, which early estimates indicate could be the costliest wildfire disaster in California history. 

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research

Jan 16, 2025

 Moody's Ratings
Wildfire could test California’s liability reform provisions for investor-owned utilities

The Eaton fire poses a potential risk to Edison International and its Southern California Edison subsidiary, given the proximity of SCE’s transmission lines to the fire. The fire’s cause has not been determined.

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research

Jan 16, 2025

 Moody's
Southern California wildfires: Putting the disaster into context for CRE

As of writing, 25 people have lost their lives, over a hundred thousand have been displaced and over 39,000 acres have burned. Meanwhile over 12,000 structures have been damaged or destroyed.

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article

Jan 10, 2025

 Moody's
Southern California wildfires are poised to make the worst kind of history

Regional damage and lost output will prove historic, and the story has yet to be fully written.

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blog

Jan 09, 2025

 Moody's
Los Angeles: Wildfires deliver a catastrophic start to 2025

For the citizens of California, living with the threat and impact of wildfires has become very familiar.

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research

Nov 20, 2024

 Moody's Ratings
Flood risk poses growing credit challenge for states and cities in Eastern, Southern US

The devastating flooding recently caused by Hurricane Helene highlights increasing flood risk for local economies and tax bases, in particular in the Eastern and Southern US. Coastal and inland flooding events are becoming more frequent and severe, leading to substantial property damage and economic disruption.

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research

Nov 11, 2024

 Moody's Ratings
Diversification limits Valencia floods' impact on Spanish securitizations, covered bonds

Following heavy flooding on 29 October, 75 municipalities in the Valencia region (Ba1 positive) suffered significant harm to people, property, infrastructure, businesses and crops.

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research

Oct 18, 2024

 Moody's Ratings
Securitizations exposed to Hurricanes Milton, Helene face limited performance risk

Most securitizations have significant geographic diversification and exposed deals will likely be protected by servicer support, insurance coverage, deal structures and other mitigants.

  • Commercial Real Estate
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research

Nov 08, 2024

 Moody's Ratings
Spanish state body to shield insurers from flood claims, impact on banks limited

Consorcio de Compensacion de Seguros will shield insurers and reinsurers from losses linked to the recent floods in eastern Spain. Rated Spanish banks’ loan exposure to the area is relatively small. 

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research

Nov 07, 2024

 Moody's Ratings
Wildfire liability reform is vital for US regulated utilities in high-risk states

A robust policy framework with liability limits and legal and financial safeguards is essential to protect the credit quality of regulated utilities in the event of catastrophic wildfires.

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research

Nov 07, 2024

 Moody's Ratings
Valencia faces economic hit from floods but crisis funds to cushion adverse credit impact

While Spanish government aid will help mitigate recovery costs, the sheer scale of flood damage to infrastructure and economic activity remains credit negative for the country's southeastern regions.

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research

Oct 31, 2024

 Moody's Ratings
Low-income economies will struggle to fill transition finance gap, magnifying credit risks

While early transition finance investment has economic, financial and credit benefits, emerging markets face stark choices balancing limited financing against other social and development priorities.

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research

Oct 23, 2024

 Moody's Ratings
Reinsurance pricing unlikely to retreat following back-to-back US hurricanes

Given the elevated level of insured catastrophe losses globally, losses from Hurricanes Helene and Milton should help stabilize property catastrophe reinsurance pricing ahead of January 2025 renewals.

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Global Event Response: Recent catastrophes from around the world

Get up-to-date information from our experts about recent natural catastrophes around the world.

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blog

Oct 15, 2024

 Moody's
Hurricane Milton: Live Blog

Hurricane Milton - over 40 blog update posts covering Milton from its development, landfall, and post-event analysis.

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research

Oct 11, 2024

 Moody's Ratings
Timely recovery of Hurricane Milton costs will be key to Florida utility credit quality

Florida’s three major investor-owned utilities are likely to recover their storm costs in full but may have to do so over a longer period than the 12 months they are typically granted.

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research

Oct 10, 2024

 Moody's Ratings
(Re)insurers brace for significant losses from Hurricane Milton

Hurricane Milton brought damaging winds, life-threatening storm surge and heavy rainfall to Florida in the aftermath of Hurricane Helene.

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article

Oct 11, 2024

 Moody's
Milton was not the worst case, but it packed a mighty economic punch

In the wake of Hurricane Milton, we estimate lost output of $10 billion to $15 billion and damage between $40 billion and $70 billion for a price tag that will wind up between $50 billion and $85 billion.

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article

Sep 25, 2024

 Moody's
Hurricane Helene: an estimated 161,856 commercial properties in direct path

Hurricane Helene’s projected track across Florida’s panhandle and the South has potential implications for public safety and business continuity. Moody’s hurricane tracker shows commercial real estate with a greater than 50% probability of facing wind speeds greater than 50 mph.

  • Property & Casualty Insurance
  • Insurance
  • Physical and transition risk
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article

Sep 14, 2024

 Moody's
Recent hurricanes estimated to cause up to $55 billion in insured losses

Moody’s RMS Event Response estimates total U.S. private market insured losses from the recent Hurricanes Helene and Milton will likely range between $35 billion and $55 billion.

  • Property & Casualty Insurance
  • Insurance
  • Physical and transition risk
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article

Sep 11, 2024

 Moody's
Hurricane Francine: an estimated 78,498 commercial properties in direct path

The third to make landfall in the U.S. this year, hurricane Francine’s northerly track through Louisiana poses significant implications for public safety and business continuity. Moody’s hurricane tracker shows commercial real estate with a greater than 50% probability of facing wind speeds greater than 50 mph.

  • Property & Casualty Insurance
  • Insurance
  • Physical and transition risk
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