Risk Management Solutions does not expect total insured losses associated with Hurricane Humberto to exceed $500 million. This figure includes wind damage to residential, commercial and industrial properties and business interruption resulting from power outages or damage to property.

It said wind damage had been fairly limited for two main reasons, one was because Humberto made landfall in a relatively sparsely populated area of southeast Texas and, secondly, because hurricane force winds were mainly confined to the northeast, extending outward to about 15 miles.

Due to Humberto's relatively small windfield, damage was mainly confined to Jefferson, Orange and Galveston counties in southeast Texas with the most severe damage seen in coastal communities, such as High Island.

RMS does not expect flood damage to significantly impact the total insured losses, given that the flooding seems not to be as severe as what was initially expected and flood insurance uptake in the US is relatively low.

The firm was continuing to monitor the flood situation over the weekend and said it would make any amendments necessary to its initial assessment.