Search

Key Highlights: * Verisk estimates insured industry losses for Hurricane Milton to range between USD 30 billion and USD 50 billion, with majority of the loss attributed to wind damage. [...]

Key Highlights: * Hurricane Milton poses a significant threat to Florida property insurers lacking diversification. * Economic and insured losses from Hurricane Milton expected to be significant and amplified by [...]

Key Highlights: * Verisk estimates industry insured losses in the U.S. for Hurricane Helene to range between USD 6 billion to USD 11 billion, excluding NFIP losses. * Hurricane Helene [...]

Key Highlights: * Property damage in Poland included 11,500 residential buildings, 6,000 agricultural and commercial buildings, and over 700 public-use structures. * Czech insurers received more than 60,000 claims totaling [...]

Key Highlights: * Insured losses from Hurricane Helene estimated to be $5 billion or more due to its wind span and destructive path across densely populated regions. * Primary insurers [...]

Key Highlights: * Allstate Corporation announced estimated catastrophe losses for August 2024 at $272 million or $215 million after-tax, including favorable reserve reestimates for prior period events. * Catastrophe losses [...]

Key Highlights: * Natural catastrophe-insured losses exceeded $100 billion for the fourth consecutive year in 2023. * Insured losses from storms in Europe are growing the fastest, exceeding $5 billion [...]

Key Highlights: * Unaffiliated Puerto Rico-domiciled companies accounted for nearly 78% of total NPW in 2023, up from 68% in 2018. * Premium ceded for unaffiliated Puerto Rico-domiciled companies to [...]

Key Highlights: * Allstate Corporation announced estimated catastrophe losses for July 2024 of $542 million or $428 million after-tax. * Catastrophe losses for July included 20 events estimated at $587 [...]

Key Highlights: * Aon plc announced the launch of its U.S. Hurricane v3.0 catastrophe model. * U.S. hurricanes caused $1.1 trillion in economic damage and nearly $520 billion in insured [...]

Key Highlights: * Insured losses from severe thunderstorms in the US increased by around 8% annually since 2008. * Torrential rain in the UAE led to flash floods, resulting in [...]

Key Highlights: * ICICI Prudential Life Insurance eases claims settlement process for families affected by Wayanad landslide tragedy. * Claim settlement process includes bank account details, death certificate, and valid [...]

Irdai has mandated that all insurance companies have to nominate a Senior Executive to act as the Nodal Claims Officer overseeing the claims response The Insurance Regulatory and Development Authority [...]

Key Highlights: * CyberCube estimates $400mn - $1.5bn global insured losses from the CrowdOut event. * Faulty CrowdStrike Falcon Sensor update caused the CrowdOut event. * Loss ratio impact of [...]

Key Highlights: * Nearly 200 active wildfires in Alberta. * Insurance Bureau of Canada (IBC) deployed Virtual Community Assistance Mobile Pavilion (V-CAMP. * IBC in contact with provincial, federal, and [...]

Key Highlights: * Hurricane Beryl became a Category 5 hurricane, the earliest on record in the Atlantic. * Beryl made landfall near Matagorda Bay, Texas with 80 mph winds and [...]

Key Highlights: * Allstate announced $230 million catastrophe losses for June 2024 * Total catastrophe losses for the second quarter were $2.12 billion pre-tax * Total catastrophe losses for June [...]

Allstate Corporation announced estimated catastrophe losses for May 2024 of $1.40 billion or $1.10 billion after-tax. Catastrophe losses included 14 events estimated at $1.48 billion, with 70% related to wind [...]

Key Highlights: * In Baden-W\u00fcrttemberg, an estimated 95,000 hectares of farmland were inundated. * Nearly half of structures in Bavaria and over 90% in Baden-W\u00fcrttemberg are insured for flood damages. [...]

ICICI Prudential Life Insurance simplifies claims settlement for cyclone Remal-affected families by requiring only 3 basic documents. The company offers a 24x7 helpline and boasts a 99.17% claim settlement ratio [...]

Byline: TIOL News Service NEW DELHI, MAY 28, 2024: THE Indian Coast Guard (ICG) demonstrated exemplary synergy with Central & State agencies to successfully deal with the situation arising out [...]

Allstate Corporation reported catastrophe losses of $494 million in April 2024, with 80% attributed to wind, hail, or tornadic events. The company's forward-looking statements are subject to uncertainties and risks. [...]

Taiwan's commercial insurers are unlikely to exceed earthquake claims from the 2016 event. Residential losses are ceded to a specific fund. The recent earthquake is not expected to lead to [...]

Allstate announced that catastrophe losses were below $150 million in February 2024. Rate increases impacted auto insurance by 0.1% and homeowners insurance by 2.4%. Homeowners insurance premiums increased by 12.4% [...]

New Zealand Claims Resolution Service (NZCRS) supports homeowners with natural disaster insurance claims. NZCRS provides free, independent support for resolving residential insurance issues from natural disasters like Auckland Floods, Cyclone [...]

Allstate announced estimated catastrophe losses for January 2024 of $276 million or $218 million, after-tax. The losses were primarily driven by two events. Allstate is pursuing rate increases for auto [...]

The Florida Supreme Court affirmed sending an $8 million hurricane damage dispute to appraisal, a victory for San Marco Villas Condominium. The case involved a partial payment, a claim for [...]

Yokohama Rubber Co., Ltd. is providing support for the restoration of sewerage systems damaged by the 2020 Noto Peninsula Earthquake. They are also providing studless tires free of charge to [...]

Allstate announced fourth quarter estimated catastrophe losses of $68 million and unfavorable prior year reserve reestimates of $199 million. The Allstate brand implemented auto rate increases of 16.5% across 15 [...]

Verisk's Extreme Event Solutions business unit estimates insured losses from the Noto Peninsula earthquake to be between JPY 260 billion and JPY 480 billion. The earthquake occurred on January 1, [...]

The potential insured losses resulting from U.S. wildfires are growing even as their frequency decreases due to the high number of Americans residing in the wildland urban interface (WUI). Over [...]

Insured losses from severe thunderstorms reached a new all-time high of USD 60 billion in 2023, with severe thunderstorms being the main contributor to insured losses of more than USD [...]

The wildfires near Yellowknife and Hay River in the Northwest Territories caused over $60 million in insured losses. Approximately 20,000 individuals were forced to evacuate their homes for about three [...]

Verisk's extreme event solutions business unit estimates that industry insured losses from Winter Storm CiarÈín will range between EUR 800 million and EUR 1.3 billion, with the majority of losses [...]

Verisk, a global data analytics and technology provider, estimates that insured losses from Hurricane Otis will range from MXN 50 billion to MXN 110 billion (~USD 3 billion to 6 [...]

Insured losses from Hurricane Otis in Mexico are expected to be covered by reinsurance companies, leading to a tightening reinsurance market and challenges for primary insurers during renewals. The hurricane, [...]

Allstate Corporation announced estimated catastrophe losses for September 2023, totaling $317 million or $250 million after-tax. The losses were primarily due to two wind and hail events. Additionally, the company [...]

The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for the month of August of $551 million or $435 million, after-tax. August month catastrophe losses include 18 events estimated at [...]

Global modeled insured average annual loss from natural catastrophes is $133 billion. Annual losses greater than $200 billion are also plausible. Severe thunderstorms responsible for 70 percent of insured losses. [...]

Idalia made landfall in Taylor County within Florida's Big Bend region, near Keaton Beach, as a Category 3 hurricane. The industry loss estimate includes estimated wind damage and insured estimates [...]

Hurricane Idalia appears to be an earnings event for insurers, but it follows above-average catastrophe losses in the first half of 2023, mainly due to severe convective storms and secondary [...]

The Allstate Corporation announced estimated catastrophe losses for the month of June of $1.01 billion or $799 million, after tax. June month catastrophe losses include 18 events, with approximately 60% [...]

In 2022 insured losses across all categories totalled $36.5 billion from 5 million claims. The Insurance Council welcomes the inclusion of the Inquiry of the impact of worsening extreme weather [...]

The wildfire in Tantallon, Nova Scotia, that lasted from May 28 to June 4, 2023, is estimated to have caused over $165 million in insured damage. Nearly 90% of all [...]