Harvey is a Category 2 hurricane currently in the Gulf of Mexico heading towards Texas, USA. Central pressure is 950hPa and decreasing, with wind speeds of 175km/h as of 12pm UTC.
Harvey is forecasted to make landfall on 26 August 2017 in the morning (UTC) as a Major Hurricane. A large part of the Texan coast is expected to be affected, but particularly around Corpus Christi. Winds greater than 175km/h are forecasted, making this a potential Category 3 hurricane.
Official hurricane warnings are currently in place along the Texan coast, and storm surge warnings for the coast near Houston. Major wind, coastal storm surge and inland flood damage along the storm track can be expected.
There is still much uncertainty around the track and storm strength, so it is not possible to make damage or loss estimates currently. Investor exposures are being closely assessed and actively monitored on both Cat Bonds and Private ILS investments.
Friday, 25 August 2017