Zurich Insurance Group has become that latest insurer to estimate the impact of Hurricanes Harvey, Irma and Maria on its book of business. Zurich said in a press release on Thursday that it currently estimates aggregate claims in the third…
There is a possibility that a third-party claim against a door installation company – whose subcontractor was injured on the job and was not covered by the Alberta Workers’ Compensation Board – falls under a commercial general liability policy, a…
Residents in the Crowsnest Pass are still without power after a wind-whipped fire that forced about 150 people living in the town of Coleman from their homes. The blaze in the Alberta mountain community was one of several driven by…
With analysts estimating catastrophe losses exceeding $100 billion to the property & casualty insurance industry in 2017, a law firm suggested Wednesday there is a risk disputes over reinstatement of reinsurance coverage and erosion limits, between North American insurers and…
While residents of Mendocino County have been allowed to return home after deadly wildfires destroyed property in California, AIR Worldwide is warning the situation “remains extremely volatile” in the region. As winds moderated on Sunday, “firefighters were able to make…
Now available from Frank Cowan Company is a new suite of products designed to help municipalities and public services organizations address the terrorism risk they face and transfer some of that risk via the insurance product. Partnering with XL Catlin…
The catastrophe loss ratio, over 10 years, was 10 points lower than the modeled expected cat loss ratio in homeowners’ insurance in the United States, Aon plc suggested in a report released Monday. Aon Benfield Analytics released Monday its annual…
The above-average activity for the Atlantic hurricanes season so far – a season that is not yet done – is already a capital event for p&c reinsurers and the remainder plus wildfire activity likely only contributes to nervousness, S&P Global…
The Lloyd’s market has now paid almost three quarters of a billion dollars (US$738 million) in response to Hurricanes Harvey, Irma and Maria, the world’s specialist insurance market said on Thursday. “When you get three catastrophic weather events as well…
The aggregated average total breach cost of a cyber event is US$394,000, with an average claim for a large company of US$3.2 million, a new report from NetDiligence has found. NetDiligence, a provider of cyber risk readiness and response services,…
With deadly wildfires destroying more than 3,500 properties north of San Francisco, Munich Re is warning that “prime wildfire conditions” may continue in California this winter. “Over the past decade, the United States has seen an uptick in the frequency…
XL Group Ltd. reported on Wednesday a preliminary estimate of approximately US$1.33 billion relating to Hurricanes Harvey, Irma and Maria. For the third quarter of 2017, total catastrophe losses, including smaller loss events, are preliminarily estimated at approximately US$1.48 billion. These…