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Allstate estimates June catastrophe losses at US$335 million

July 24, 2017 by Canadian Underwriter

The Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August,

News AssociationsCatastrophesClimate ChangeCommercial LinesInsurancePersonal Lines

Estimated insured damage for June storm in central Alberta upwards of $30 million

July 17, 2017 by Canadian Underwriter

A severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.

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Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states

July 12, 2017 by Canadian Underwriter

Hannover 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

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Saskatoon thunderstorm estimated to cost over US$30 million, floods and convective storms cost global economy US$5 billion in June: Aon Benfield

July 6, 2017 by Canadian Underwriter

A thunderstorm over Saskatoon on June 2 that spawned ping pong ball-sized hail is estimated to cost more than US$30 million, Aon Benfield said in its Global Catastrophe Recap report for the month of June. The fast-developing thunderstorm caused the

News AssociationsCatastrophesClimate ChangeCommercial LinesPersonal LinesReinsurance

Intact Financial Corporation announces $105 million Cat loss for 2017 Q2

July 6, 2017 by Canadian Underwriter

Intact Financial Corporation’s (IFC) estimated catastrophe losses, net of reinsurance, for 2017 Q2 is about $105 million on a pre-tax basis, reports Canada’s largest provider of property and casualty. On an after-tax basis, the estimated loss amounts to $77 million

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesReinsuranceTechnology

New Zealand proposes shaking up earthquake commission scheme to smooth claims resolution

June 27, 2017 by Canadian Underwriter

New Zealand will continue to flesh out the details of proposed changes aimed at simplifying and improving the Earthquake Commission (EQC) scheme to help support more timely response to affected policyholders. Reforms to the Earthquake Commission Act seek to “simplify

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May storms in Ontario, Quebec and the Maritimes caused hundreds of millions in damage and damaged more than 5,200 homes: Aon Benfield

June 8, 2017 by Canadian Underwriter

Several low pressure systems that brought heavy rainfall to portions of Ontario, Quebec and the Maritimes last month caused “hundreds of millions” in U.S. dollars and damaged more than 5,200 homes, according to Impact Forecasting’s latest Global Catastrophe Recap for

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PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus

June 6, 2017 by Canadian Underwriter

PERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides

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Too early to confirm costs from flooding in B.C., Ontario, Quebec and Maritimes: Aon

May 11, 2017 by Canadian Underwriter

Persistent recent heavy rainfall falling across several Canadian provinces has led to increasingly rising rivers, streams and lakes this week, as communities “raced to protect from water inundation,” Impact Forecasting said on Thursday in an Aon cat alert. Financial losses

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Q1 claims and claims expense ratio improved 5.6 points for Allstate

May 10, 2017 by Canadian Underwriter

For the second year in a row, hail in Texas in March has cost The Allstate Corp. millions of dollars in claims and claims expenses. Northbrook, Ill.-based Allstate released May 2 its financial results for the first three months of

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Flooding in Ontario and Quebec in April and May estimated to cost “well into the millions” in U.S. dollars: Aon Benfield

May 9, 2017 by Canadian Underwriter

Flooding in multiple communities in southern Ontario and Quebec in April and into May is estimated to cost “well into the millions of dollars (USD)” in economic losses, Impact Forecasting said on Tuesday in its Global Catastrophe Recap report for

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Aon unit pegs economic loss from Matthew at US$15 billion

April 24, 2017 by Canadian Underwriter

Hurricane Matthew, which is estimated to have caused $150 million in economic losses in Canada alone and killed more than 600 in the Western hemisphere, set several records, Impact Forecasting LLC said in a report released Monday. Hurricane Matthew officially