Keyword
Hurricane Matthew
2016 set to be hottest year on record: World Meteorological Organization
November 14, 2016 by Canadian Underwriter2016 is “very likely” to be the hottest year on record, with global temperatures even higher than the record-breaking temperatures in 2015, according to an assessment by the World Meteorological Organization (WMO), the United Nation’s agency on weather, climate and…
Munich Re posts profit of 684 million euros in third quarter
November 10, 2016 by Canadian UnderwriterMunich Re has posted a profit for 684 million euros in the third quarter of 2016 ending Sept. 30, up from 525 million euros in the same quarter last year. For the first nine months of the year ending Sept.…
Hurricane Matthew causes up to US$15 billion impact to U.S. and Caribbean economies in October: Aon Benfield
November 9, 2016 by Canadian UnderwriterHurricane Matthew, which swept through parts of the Caribbean and United States last month, is expected to cost up to US$15 billion to both economies, according to Aon Benfield’s latest Global Catastrophe Recap. Released on Wednesday, the report from Aon…
Hurricane Matthew ‘will not be material’ to Berkshire Hathaway’s financial results
November 7, 2016 by Canadian UnderwriterBerkshire Hathaway Inc. reported Friday a 13% drop in its property & casualty premiums earned at its reinsurance group, while the primary insurers had a combined loss ratio of 61% during the third quarter of this year. For the three…
Businesses plan to “invest in resilience” in aftermath of Hurricane Matthew: FM Global
October 28, 2016 by Canadian UnderwriterThe ravages of Hurricane Matthew are prompting businesses to rethink their natural hazards preparedness, with more than one out of four surveyed employees in the stricken region saying they believe their companies will increase investment in the area. The survey,…
Coastal wetlands prevented more than US$625 million in property damages during Hurricane Sandy in 2012: report
October 25, 2016 by Canadian UnderwriterMore than US$625 million in property damages were prevented during Hurricane Sandy in 2012 by coastal wetlands along the coast northeast coast of the United States, according to a new report released on Tuesday. Using the latest modelling techniques, scientists…
Estimated insured losses for U.S., Caribbean from Hurricane Matthew US$2.5 billion to US$8 billion: RMS
October 21, 2016 by Canadian UnderwriterRMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years…
Hurricane Matthew damage significant, but manageable, for U.S. insurers: A.M. Best
October 18, 2016 by Canadian UnderwriterMost insurance carriers rated by A.M. Best have sufficient capital and appropriate reinsurance programs to effectively absorb Hurricane Matthew losses, notes a new briefing from the rating agency. That being the case, A.M. Best reports it does not anticipate a…
North Carolina buildings take $1.5B hit from Matthew floods
October 17, 2016 Jonathan Drew - THE ASSOCIATED PRESSRALEIGH, N.C. – Flooding spawned by Hurricane Matthew has caused $1.5 billion in damage to 100,000 homes, businesses and government buildings in North Carolina, according to a state estimate. The figure released late Saturday represents one of the first detailed…
Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR
October 13, 2016 by Canadian UnderwriterModelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean…
U.S. insurers to pay about US$7 billion for storm surge, inland flooding and wind damages from Hurricane Matthew: Karen Clark & Company
October 12, 2016 by Canadian UnderwriterBoston-based catastrophe risk management firm Karen Clark & Company (KCC) has estimated insurers will pay about US$7 billion for damages in the United States as a result of Hurricane Matthew. The estimate is based on high resolution storm surge, inland…
Insured residential, commercial property losses from Hurricane Matthew estimated to be US$4 billion to US$6 billion: CoreLogic
October 11, 2016 by Canadian UnderwriterInsured property losses for both residential and commercial properties from Hurricane Matthew are estimated to be between US$4 billion and US$6 billion from wind and storm surge damage, according to CoreLogic, Inc. Of this estimated loss, 90% of the insurance…