Has there ever been a hurricane to affect both Bermuda and the US?

Question

Has there ever been a hurricane to affect both Bermuda and the US?

Answer 1

yes their has. especially since  they are both very close to each other.

will bertha effect the us and bermuda, HOPEFULLY NOT.

bertha is a category 3 MAJOR hurricane. at the least if it hits bermuda the winds wont be as strong as now, but with some luck and a weaker frontal system bertha may not impact bermuda

Answer 2

The Senate Finance Committee may be presented with proposals from certain U.S. insurance carriers to raise revenues through some sort of tax on international reinsurance operations. If such action is taken on behalf of domestic insurance companies, it will have a negative effect on the cost and availability of insurance in the United States.

When insurance companies provide insurance coverage to U.S. businesses and households, they incur substantial risk. The typical practice is to transfer a portion of that risk to other insurance companies in the form of reinsurance. The originator of the insurance policy pays premiums to a reinsurance company that assumes a portion of the insurance risk. Just as U.S. companies and the federal government depend on foreign providers of capital to help fund domestic debt needs, the U.S. insurance market depends on foreign sources of insurance capital to help fund domestic insurance needs. The U.S. has always been a large net importer of insurance; that is, we soak up insurance capacity from around the world.

The U.S. insurance market has been buffeted in recent years by huge catastrophes that have strained the ability of the global insurance industry to provide sufficient capital to fund insurance risk for U.S. consumers. Foreign reinsurance companies – including to a great degree those that are domiciled in Bermuda -- have played a critical role covering claims and making capital available to help underwrite risk in the U.S. The U.S. insurance market could not provide adequate coverage to Americans without the availability of foreign reinsurance capital.

Over the years, Bermuda reinsurance companies have specialized in providing low-frequency, high-severity risk reinsurance in the U.S. market to cover natural disasters. Bermuda reinsurers have made $25 plus billion economic contributions to the U.S. in the last 6 years with catastrophe claim payments for terrorism and natural disaster events.

Bermuda reinsurers were created to meet U.S. and worldwide capacity demands - to fill market voids. These carriers have performed as a “shock absorber” meeting U.S. economic needs.

They were established via the streamlined Bermuda licensing process in order to meet U.S. customer needs quickly. This could never have been accomplished in a timely fashion under the U.S. state regulatory system which comprises multiple jurisdictions with expensive and slow moving regulatory structures.

The attached paper summarizes the recent history of the U.S. market illustrating the critical importance of Bermuda reinsurance capital.