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Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
Hurricane Delta, a Category 2 hurricane, made landfall on the Yucatán Peninsula on October 7, 2020, and subsequently in Louisiana on October 9, 2020, causing widespread flooding and damage, including in the region impacted by Hurricane Laura. The Company is also monitoring Hurricane Zeta, which made landfall on October 26, 2020 on the Yucatán Peninsula and is expected to make landfall in the U.S. on October 28, 2020. Additionally, wildfires impacting several Western U.S. states are ongoing.
The Company is in the preliminary stage of assessing the impact of these events beyond the third quarter of 2020. The Company’s assessment is based on, among other things, initial industry insured loss estimates, market share analysis, the application of its modeling techniques, a review of its in-force contracts and potential uncertainties relating to reinsurance recoveries. Based on the Company’s initial assessment of these events, it is anticipated that the impact on the Company’s financial results may be significant and could be material. However, it is difficult at this time to provide an accurate estimate of the financial impact of these events, including as a result of the preliminary nature of the information available, the preliminary nature of the information provided thus far by industry participants, the magnitude and recent occurrence of the events, and other factors. The estimated losses for these events will be reported in the Company's fourth quarter of 2020 financial results.