Keyword
Florida
ICLR to hold webinar on homes impacted by Hurricane Irma
November 7, 2017 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will soon be hosting its final Friday Forum of the year, focusing on Hurricane Irma and impacted homes in Florida. The webinar – Hurricane Irma Damage Assessment: Investigating the performance of Florida’s homes…
Insured losses from Hurricane Irma already US$5.3 billion: Florida Office of Insurance Regulation
October 25, 2017 by Canadian UnderwriterTotal estimated insured losses from Hurricane Irma in Florida have already topped US$5 billion, the Florida Office of Insurance Regulation (FOIR) has reported. Aggregate information compiled from claims data filed by insurers shows that total estimated insured losses are US$5,311,772,141.…
Andrew: Now and Then
September 28, 2017 Karen Clark, Co-founder, Karen Clark & CompanyHurricane Andrew brought with it great devastation and loss a quarter-century ago, but also helped cement the value of well-informed catastrophe modelling. Fast forward 25 years and, once again, rethinking modelling is in order
Predications of hardening reinsurance market after Irma ‘premature,’ insured losses lower than initially feared: A.M. Best
September 15, 2017 by Canadian UnderwriterHurricane Irma will “try the ability” of Florida regional property insurers to mitigate catastrophe risk through reinsurance, but there will be a “material” reduction in forecasts of insured losses from the storm, which will be “more of an earnings event”…
Coalition urges ‘substantive reforms’ to U.S. National Flood Insurance Program
September 11, 2017 by Canadian UnderwriterAs Tropical Storm Irma moves north through Florida, a group whose members include insurers is urging American politicians to reform the National Flood Insurance Program, which expires Sept. 30. SmarterSafer announced Sept. 7 it “continues to support a reauthorization of…
8.5 million properties in Florida at significant risk of potential wind damage from Hurricane Irma: CoreLogic
September 8, 2017 by Canadian UnderwriterNearly 8.5 million residential and commercial properties in Florida are at either “extreme,” “very high” or “high” risk of wind damage from Hurricane Irma, new data from CoreLogic shows. According to data analysis from the global property information, analytics and…
Hurricane Harvey likely to be one of the costliest natural disasters on record for U.S. economy: Aon Benfield
September 8, 2017 by Canadian UnderwriterHurricane Harvey is likely to be one of the costliest natural disasters on record for the economy of the United States, with damage from the hurricane to minimally cost tens of billions of dollars, Aon Benfield has reported. Impact Forecasting,…
Expected insured losses from present-day Hurricane Andrew would total US$56 billion: AIR Worldwide
August 21, 2017 by Canadian UnderwriterIf Hurricane Andrew were to occur today, 25 years after its original landfall, the expected total industry insured losses (based on today’s exposures) would be approximately US$56 billion in the United States, catastrophe risk modelling firm AIR Worldwide reported on…
Modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage compared to 1992’s US$26.5 billion: Swiss Re
August 9, 2017 by Canadian UnderwriterA modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage, up dramatically from the US$26.5 billion cost in 1992 dollars, according to a new report from Swiss Re. The hurricane in August 1992 destroyed more than 25,000…
Most automakers slow to fix dangerous air bags: Associated Press analysis
August 1, 2017 Tom Krisher - THE ASSOCIATED PRESSDETROIT – A government effort to speed up recalls of more than 21 million of the most dangerous Takata air bag inflators is falling short, according to an analysis of completion rates by The Associated Press. Nearly 10 million inflators…
CRU Adjusters teams up with Kespry’s industrial drone platform for adjusting property claims
July 13, 2017 by Canadian UnderwriterCRU Adjusters, an independent adjusting firm specializing in customized claims handling solutions in Canada and the United States, has announced a collaboration with Kespry’s industrial drone platform to power CRU’s drone division for adjusting property claims. The collaboration, after more…
Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states
July 12, 2017 by Canadian UnderwriterHannover Re announced Wednesday it has completed three insurance-linked securities transactions, through Marsh and McLennan Companies Inc.’s GC Securities unit, with a total value of $960 million. All figures are in United States dollars. Hannover Re said it transferred $750…