Canadian Underwriter

Topic Catastrophes

News Catastrophes

Allstate facing US$425 million Charley price tag

September 1, 2004 by Canadian Underwriter

As 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

News Catastrophes

Frances latest fear in Atlantic hurricane season

August 30, 2004 by Canadian Underwriter

As 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

News Catastrophes

What’s new: In brief (August 29, 2004)

August 29, 2004 by Canadian Underwriter

CNA 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

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Charley highlights business coverage issues

August 26, 2004 by Canadian Underwriter

A 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

News Catastrophes

Hamilton firm handles Charley claims

August 26, 2004 by Canadian Underwriter

A 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

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ISO pegs Charley loss at US$6.8 billion

August 25, 2004 by Canadian Underwriter

The 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

News Catastrophes

What’s new: In brief (August 25, 2004)

August 25, 2004 by Canadian Underwriter

The 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

News Catastrophes

Fairfax expects US$35 million Charley loss

August 23, 2004 by Canadian Underwriter

Toronto-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

News Catastrophes

TSR says another hurricane likely (August 23, 2004)

August 23, 2004 by Canadian Underwriter

On 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

News Catastrophes

III pegs Charley loss at US$7.4 billion

August 19, 2004 by Canadian Underwriter

With 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

News Catastrophes

Hurricane Charley loss estimates rise

August 17, 2004 by Canadian Underwriter

Early insured loss estimates from Hurricane Charley, which made landfall in Florida over the weekend, now run as high as US$10 billion.Risk modeling firm AIR Worldwide says insured losses should range between US$6-$10 billion, while Risk Management Solutions has upped

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Hurricane Charley loss less than expected

August 16, 2004 by Canadian Underwriter

The estimated loss resulting from Hurricane Charley, which made landfall in Florida on Friday, has been reduced from US$10-15 billion to US$5 billion by Risk Management Solutions Inc. (RMS). The risk assessment company says it revised the potential loss due