Topic
Climate Change
Bermuda market maintains profitability in second quarter
September 2, 2004 by Canadian UnderwriterThe Bermuda market shows no signs of waning profitability, even as rates in several key lines begin to soften, according to results compiled by Benfield Group. In its quarterly analysis of the top 16 listed Bermuda companies, Benfield finds net…
Frances toll could rival Andrew
September 2, 2004 by Canadian UnderwriterAnalysts are predicting devastation predicted to arise from Hurricane Frances’ arrival on U.S. soil this weekend could result in claims as high as those seen from Hurricane Andrew in 1992. Andrew was the worst insured loss to result from the…
Allstate facing US$425 million Charley price tag
September 1, 2004 by Canadian UnderwriterAs insurer loss tallies continue to pour in as a result of Hurricane Charley’s destructive run through Florida and the Carolinas in mid-August, Allstate Corp. appears to be one of the hardest hit. The Illinois-based insurer faces a loss total…
Frances latest fear in Atlantic hurricane season
August 30, 2004 by Canadian UnderwriterAs Floridians continue to rebuild following Hurricane Charley, another intense storm is following in his tracks. Hurricane Frances, which as of Monday was classified as a category three storm, has the potential to hit Florida over the Labor Day weekend.On…
What’s new: In brief (August 29, 2004)
August 29, 2004 by Canadian UnderwriterCNA Financial Corp. is the latest to disclose preliminary loss estimates from Hurricane Charley, counting for a net loss of at least US$40-$60 million. The company notes, however, that losses could well exceed this early estimate. The Wholesale Insurance Group…
Charley highlights business coverage issues
August 26, 2004 by Canadian UnderwriterA new public service release from the Property Casualty Insurers Association of America (PCI) discusses the impact Charley has had on commercial interests in Florida. It notes that some covers which are not standard to businesses, but which can be…
Hamilton firm handles Charley claims
August 26, 2004 by Canadian UnderwriterA Hamilton call center is handling claims resulting from Hurricane Charley’s devastation in Florida, dealing with thousands of calls per day.ECHO Intake Solutions, a division of Cunningham Lindsey Canada, has been receiving calls from claimants since Charley hit Florida’s Gulf…
ISO pegs Charley loss at US$6.8 billion
August 25, 2004 by Canadian UnderwriterThe total insured loss from Hurricane Charley should be around US$6.8 billion, says the U.S. Insurance Services Office (ISO). ISO’s Property Claim Services unit says the category 4 hurricane, which hit Florida on August 13, will cause US$6.755 billion in…
What’s new: In brief (August 25, 2004)
August 25, 2004 by Canadian UnderwriterThe crash of two Russian airliners which left 89 dead late Tuesday is under investigation, with some speculating the cause is terrorism, but Russian officials saying there is no evidence of terrorism at this point. The outcome of this investigation…
TSR says another hurricane likely (August 23, 2004)
August 23, 2004 by Canadian UnderwriterOn the heels of Hurricane Charley devastating the Florida coast, Tropical Storm Risk (TSR) is predicting more of the same is on the way. TSR says at least one more hurricane force storm is expected to hit the U.S. coast…
Fairfax expects US$35 million Charley loss
August 23, 2004 by Canadian UnderwriterToronto-based Fairfax Financial Holdings says its companies could be exposed to losses totaling US$35-$45 million as a result of Hurricane Charley. The preliminary estimates, which are net of reinsurance, include Odyssey Re, Crum & Forster and Northbridge.Other insurers are beginning…
III pegs Charley loss at US$7.4 billion
August 19, 2004 by Canadian UnderwriterWith insured losses expected to reach US$7.4 billion, Hurricane Charley will likely be the second-most costly hurricane in U.S. history, says the Insurance Information Institute (III).With risk modelers casting estimates in the US$5-$10 billion range, the III says the total…