Flood losses from Hurricane Harvey have again highlighted the global insurance protection gap, Aon Benfield said in a newly released report. On Monday, Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released the September edition of…
Hurricane 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,…
Property losses from flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between US$65 billion and US$75 billion, catastrophe modelling firm AIR Worldwide estimated in a press release issued late Wednesday. The estimate includes damage to all properties…
Insured flood loss for homes in Texas and Louisiana affected by Hurricane Harvey is estimated to be between US$6.5 billion and US$9.5 billion, according to preliminary loss estimates from CoreLogic. Irvine, Calif.-based CoreLogic, a global property information, analytics and data-enabled…
Harvey-related winds and storm surge in Texas are expected to produce industry insured losses amounting to between US$1.2 billion and US$2.3 billion, AIR Worldwide reported Monday afternoon as flooding in southeastern Texas continued to strand residents and wreak havoc. Included…
Catastrophic and life-threatening flooding persisted over parts of southeastern Texas as of early Monday morning despite Harvey being downgraded from an anticipated Category 3 hurricane to a tropical storm. “Do not attempt to travel in the affected areas if you…
More than 200,000 homes along the coast of Texas with a reconstruction cost value (RCV) of approximately US$39.6 billion are at potential risk of storm surge damage from Hurricane Harvey, CoreLogic suggested late Thursday. Irvine, Calif-based CoreLogic, a global property…
A majority of single-family homes in Florida, Texas and Louisiana could see cheaper premiums with private insurance than with the National Flood Insurance Program (NFIP), according to a briefing paper from Milliman, a provider of actuarial and related products and…
NEW ORLEANS – A suspected tornado near Birmingham, Alabama, flattened businesses and injured one person Thursday, while the mayor of a coastal Louisiana town urged residents to evacuate ahead of a rising tide – two lingering effects of a weakening…
The number of homeowners insurance claims from lightning strikes and electrical surges in the United States rose in 2016, compared with 2015, but the average cost that insurers paid on those claims fell, according to a new analysis by the…
Nearly 6.9 million homes along the Atlantic and Gulf coasts in the United States are at potential risk of damage from hurricane storm surge inundation, according to CoreLogic’s 2017 Storm Surge Report. On Thursday, the global property information, analytics and…
ST. LOUIS – River levels are falling Thursday after record and near-record flooding in parts of the Midwest, but the crisis is far from over. Officials have not said when hundreds of residents displaced from flooded properties in suburban St.…