M Moody's on Hurricane Debby

Hurricane Debby, a Category 1 storm, made landfall in Florida's Big Bend region, bringing catastrophic flooding and heavy rainfall across the Southeast, with expectations of up to 30 inches in some areas. Moody's Ratings anticipates that most insured losses will fall within primary insurers’ retentions, as they are retaining more risk this hurricane season. The Insurance Information Institute has advised those in the storm's path to prepare emergency kits and evacuation plans. Despite the storm's impact, investment manager Icosa Investments AG believes that the limited population in the landfall area will mitigate significant effects on the catastrophe bond market. The storm is also linked to financial concerns on Wall Street, where major indices suffered substantial losses, compounded by the ongoing economic uncertainties. Vice President Kamala Harris is also on a campaign tour, highlighting the contrasting generational dynamics of current political candidates.