Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in…
Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with…
XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net…
The US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday…
The first above-normal Atlantic hurricane season since 2012 has produced five landfalling storms in the United States, the National Oceanic and Atmospheric Administration (NOAA) said on Wednesday. The Atlantic, eastern Pacific and central Pacific 2016 hurricane seasons ended on Nov.…
The third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that…
Homeowner claims in the United States continue to decrease and loss costs are flat or on the decline, according to a new report from LexisNexis Risk Solutions. 2016 LexisNexis Home Trends Report, the inaugural study of home insurance trends released…
Most 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…
Modelled 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…
The current flash estimate of insured losses associated with Hurricane Hermine – likely to produce in excess of 50,000 claims – approaches US$500 million, with total economic damages almost US$1 billion, Karen Clark & Company (KCC) reported Friday. “The storm…
DEKLE BEACH, Fla. – Hermine tore across northern Florida on Friday as the first hurricane to hit the state in more than a decade, killing one person, raising a storm surge that destroyed beachside buildings and toppling trees into homes.…
Six of the ten ports with the highest potential insured loss from natural catastrophes are on the United States gulf coast, Risk Management Solutions (RMS) Inc. said in a release Monday. Newark, Calif.-based RMS ranked the top 10 ports in…