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    <title>Lloyd&#8217;s Insurers&#8217; Stocks Fall on Possible Claims from Hurricane Harvey</title>

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<div class="article-feed" data-infinite-scroll data-toc="[{&quot;id&quot;:462622,&quot;title&quot;:&quot;Lloyd&amp;#8217;s Insurers&amp;#8217; Stocks Fall on Possible Claims from Hurricane Harvey&quot;,&quot;permalink&quot;:&quot;https:\/\/www.insurancejournal.com\/news\/international\/2017\/08\/29\/462622.htm&quot;,&quot;author&quot;:&quot;Lukanyo Mnyanda&quot;,&quot;category&quot;:&quot;international&quot;},{&quot;id&quot;:480324,&quot;title&quot;:&quot;&#039;No-Fault&#039; Pacts with Railroads Hold Amtrak Liable for Accidents It Didn&#039;t Cause&quot;,&quot;permalink&quot;:&quot;https:\/\/www.insurancejournal.com\/news\/national\/2018\/02\/13\/480324.htm&quot;,&quot;author&quot;:&quot;Jeff Horwitz&quot;,&quot;category&quot;:&quot;national&quot;},{&quot;id&quot;:480245,&quot;title&quot;:&quot;Distributed Social Proof Insurance: The Next Industry Game-Changer?&quot;,&quot;permalink&quot;:&quot;https:\/\/www.insurancejournal.com\/news\/international\/2018\/02\/12\/480245.htm&quot;,&quot;author&quot;:&quot;L.S. Howard&quot;,&quot;category&quot;:&quot;international&quot;},{&quot;id&quot;:480250,&quot;title&quot;:&quot;First-Hand Knowledge of Industry&#039;s Problems Led to Idea for InsurePal&#039;s Social Proofing&quot;,&quot;permalink&quot;:&quot;https:\/\/www.insurancejournal.com\/news\/international\/2018\/02\/12\/480250.htm&quot;,&quot;author&quot;:&quot;L.S. Howard&quot;,&quot;category&quot;:&quot;international&quot;},{&quot;id&quot;:480362,&quot;title&quot;:&quot;Ironshore Names Russo VP, Mid-Atlantic Regional Executive in Philadelphia&quot;,&quot;permalink&quot;:&quot;https:\/\/www.insurancejournal.com\/news\/east\/2018\/02\/13\/480362.htm&quot;,&quot;author&quot;:&quot;&quot;,&quot;category&quot;:&quot;east&quot;}]">

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    <h1>Lloyd&#8217;s Insurers&#8217; Stocks Fall on Possible Claims from Hurricane Harvey</h1>
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                By Lukanyo Mnyanda |                 <span class="the-date">August 29, 2017</span>    </div>
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        <p class="bloomberg">Lloyd&#8217;s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that&#8217;s battering Houston, the epicenter of the U.S. oil industry.</p>
<p>The storm, which which made landfall as a category 4 hurricane and then drifted into the Gulf of Mexico, may cause as much as $50 billion of damage in total, Barrie Cornes, an analyst at Panmure Gordon &amp; Co., wrote in a note to clients on Monday. He estimated costs of 200 million pounds ($259 million) for Lancashire Holdings Ltd. and 100 million pounds each for Hiscox Ltd. and Beazley Plc.</p><div class="bzn bzn-intext">
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<p>Lancashire slipped as much as 4 percent in London, the most since May 5, and was down 3.6 percent as of 10:28 a.m. Hiscox fell as much as 3.3. percent and Beazley was 2 percent lower.</p>
<p>Loss estimates for Harvey vary widely, with David Havens, an insurance analyst at Imperial Capital, saying the costs could surpass $100 billion. Hurricane Katrina in 2005 became the most expensive hurricane to hit the U.S., costing about $118 billion, while Hurricane Sandy in 2012 left some $75 billion of damage.</p>
<p>It&#8217;s still too early to assess the damage from Harvey, which has so far &#8220;mostly hit a relatively sparsely populated area with comparatively little objects of value,&#8221; Ernst Rauch, head of Munich Re&#8217;s Corporate Climate Center, said in an email.</p>
</p><div class="copyright-notice quiet">Copyright 2018 Bloomberg.</div>    </div>
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