CHINA – Relatively less insured losses expected from China typhoon: Eqecat

According to catastrophe modeler Eqecat Inc., relatively less insured loss is expected from Typhoon Usagi, which struck Southeastern China on Sunday. 

Maximum sustained wind speeds at the time of landfall were about 98 miles per hour, which made Usagi the most intense storm to make landfall in China this year. 

Eqecat said Usagi caused significant damage to life and property, with about 25 fatalities. But, “Insurance loss from this event is expected to be relatively low due to low insurance penetrations in China.”