Keyword
Harvey
Bermuda’s global insurers, reinsurers could fund at least US$25 billion of insured losses from hurricanes
October 11, 2017 by Canadian UnderwriterBermuda market firms may fund at least a quarter of the estimated US$100 billion in aggregate insured losses from hurricanes Harvey, Irma and Maria, suggest preliminary aggregated loss estimates from the Association of Bermuda Insurers & Reinsurers (ABIR). “Based on…
Mexico earthquake and three hurricanes could cost the industry US$95 billion: SCOR
October 10, 2017 by Canadian UnderwriterCatastrophe losses “should reach” US$95 billion, for the private insurance market, from three recent North Atlantic hurricanes and the earthquake in Mexico, SCOR SE suggested Monday. That figure is the “total private insured market loss for the combined Harvey-Irma-Maria hurricanes…
Allstate estimates gross cat losses of US$576 for Hurricane Harvey
September 21, 2017 by Canadian UnderwriterThe Allstate Corporation has estimated gross catastrophe losses, excluding homeowners flood, of US$576 pre-tax for Hurricane Harvey. The losses will be reduced by US$23 million in anticipated reinsurance recoveries, for a net estimated loss of US$553 million, Northbrook, Ill.-based Allstate…
Life-threatening floods for Puerto Rico, four-metre swells for Nova Scotia coast: forecasts
September 19, 2017 by Canadian UnderwriterNine days after Hurricane Irma made landfall in Florida, Hurricane Jose is expected to cause “rough surf conditions” along the Atlantic Coast of Nova Scotia and heavy rain south of Boston, while Hurricane Maria is expected to cause “life-threatening flash…
Irma losses in U.S. and Caribbean could reach $50 billion while Jose could cause ‘minor to moderate coastal flooding’ in New England
September 18, 2017 by Canadian UnderwriterAs the United States National Weather Service warns of the possibility of more than 125 mm of rain over two days in southern Rhode Island and southeast Massachusetts, Munich Re is suggesting two recent North Atlantic hurricanes might cause it…
Coalition urges ‘substantive reforms’ to U.S. National Flood Insurance Program
September 11, 2017 by Canadian UnderwriterAs Tropical Storm Irma moves north through Florida, a group whose members include insurers is urging American politicians to reform the National Flood Insurance Program, which expires Sept. 30. SmarterSafer announced Sept. 7 it “continues to support a reauthorization of…
U.S. commercial insurance prices remain nearly flat in the second quarter: Willis Towers Watson survey
September 11, 2017 by Canadian UnderwriterCommercial insurance prices in the United States were again nearly flat during the second quarter of 2017, global advisory, broking and solutions company Willis Towers Watson (WTW) reported on Monday. For the eight quarter in a row, price changes were…
Insured losses from Harvey’s wind, storm surge as much as US$2.3 billion: AIR Worldwide
August 29, 2017 by Canadian UnderwriterHarvey-related winds and storm surge in Texas are expected to produce industry insured losses amounting to between US$1.2 billion and US$2.3 billion, AIR Worldwide reported Monday afternoon as flooding in southeastern Texas continued to strand residents and wreak havoc. Included…
Harvey creating life-threatening flooding in southeastern Texas, early damage estimate up to US$2 billion
August 28, 2017 by Canadian UnderwriterCatastrophic and life-threatening flooding persisted over parts of southeastern Texas as of early Monday morning despite Harvey being downgraded from an anticipated Category 3 hurricane to a tropical storm. “Do not attempt to travel in the affected areas if you…