Topic Catastrophes
California wildfire loss estimate $2 billion: ISO
November 20, 2003 by Canadian UnderwriterDespite rating agency estimates of a much higher insured loss from last month’s California wildfires, insurers should face a bill of about US$2.04 billion says the US Insurance Services Office (ISO). The ISO’s property claim services unit says the fires…
Moody’s ups California wildfire estimate to US$2.5 billion
November 13, 2003 by Canadian UnderwriterRating agency Moody’s predicts insured losses stemming from the wildfires that raged through Southern California this fall will be in the US$2.5 billion-US$3.5 billion range.Nonetheless, Moody’s does not expect the fires to materially impact the ratings or the overall outlook…
Hurricane Juan damage pegged at $85 million
November 7, 2003 by Canadian UnderwriterDamage in the wake of Hurricane Juan in Nova Scotia and PEI will cost insurers more than $85 million, says the Insurance Bureau of Canada (IBC).In Nova Scotia, property damage is estimated at $76.5 million, with PEI hitting $5.7 million.…
III pegs California wildfire loss at US$2 billion
November 6, 2003 by Canadian UnderwriterWhile much of the wildfires raging through California are now under control, the US Insurance Information Institute (III) says damage could easily top US$2 billion, making these the worst fires in California history.As of Monday, 5,980 claims had been filed…