The Week in a Minute, Sept. 2, 2011

Didn’t do this last week, perhaps distracted by:

  • Hurricane Irene, which didn’t delivered the winds expected but caused epochal flooding, especially in Vermont. AIR puts losses between $3B and $6B. Eqecat estimates between $1.8B and $3.4B. The higher numbers would make the storm. More than 40 deaths.
  • On a personal note, about a month ago, my family drove across Vermont on U.S. 4, admiring a friendly little stream that followed the highway. (Skiers might recall it’s the main road to Killington.) As Irene passed, the stream got nasty, and this happened:

The stream is on the left.

  • Hurricane Katia formed well southeast of Bermuda and will turn nasty next week, though it’s too soon to know whether it will threaten land. Tropical Storm Lee looks likely to swamp the southeast over Labor Day. Texas could use the rain.
  • RAA announced reinsurers wrote at a 116 combined through June, up from 99 last year. NWP rose 12%, but surplus fell $8B.
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