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,…
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…
ATLANTA – Parts of the Midwest and the South were recovering Monday after a weekend round of storms, winds, hail and isolated tornadoes killed at least 14 people. And a chance remained for more severe weather in the South. Parts…
Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net income after tax of US$95.5 million for the first quarter of 2017 ending March 31, down from US$114.4 million in the same quarter of 2016. The insurer’s operating income after…
Allianz SE announced on Friday that it has recently made a “strategic investment” in Lemonade Insurance Company, a New York-licensed renters and homeowners insurer powered by artificial intelligence and behavioural economics. “The partnership ties in neatly with our digitization focus,”…
Major severe weather and flood events in the United States in January led to billion-dollar cost for the insurance industry, according to Aon Benfield’s latest Global Catastrophe Recap. The January report noted that separate major severe weather outbreaks swept across…
NEW ORLEANS – Brittany Ross remembers she was savoring the smell of her aunt’s simmering white beans when the storm that injured about 40 people in southeastern Louisiana hit. “The place started shaking, kind of twisting,” she said Tuesday as…
Georgia’s insurance commissioner is estimating US$100 million in property damage from storms and tornadoes that devastated parts of the state and resulted in at least 15 deaths. Commissioner Ralph T. Hudgens said in a press release issued Wednesday that “hundreds”…
Lemonade Insurance Company announced on Friday that it has filed for a licence in 46 states and the District of Columbia in the United States, in addition to New York, where it was licensed three months ago. Lemonade, the renters…
Total economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total…
Additional rainfall could result in more flooding in southern Louisiana, already hit hard by extensive flooding associated with one of the state’s most catastrophic, non-tropical cyclone-triggered flood events in decades. “In the event of further rainfall, the region’s flat topography,…
Extensive precipitation-induced flooding in southern Louisiana, from west of Baton Rouge to Mississippi, has resulted in six deaths, tens of thousands of rescues and significant property damage, catastrophe modelling firm AIR Worldwide said in media advisory issued late Monday. AIR…