Keyword
insured losses
Total worldwide economic losses for first half of 2016 at US$70 billion, up US$11 billion from 2015 half-year totals: Munich Re
July 12, 2016 by Canadian UnderwriterTotal worldwide economic losses for the first half of 2016 were US$70 billion, of which US$27 billion were insured, significantly higher than the first year losses of US$59 billion in 2015, of which US$19 billion were insured, Munich Re said…
Latest estimate of insured losses from Eva-Frank flooding £538 million: PERILS AG
June 27, 2016 by Canadian UnderwriterPERILS AG Friday issued an estimate of £538 million for insured property market loss from flooding damage in the United Kingdom as a result of storms in late December and early January. Storms Eva and Frank hit the U.K. in…
Flood losses expected to dampen French, German insurers’ first-half earnings: A.M. Best
June 21, 2016 by Canadian UnderwriterFlood losses in the wake of storms Elvira and Friederike in late May and early June are not expected to result in ratings actions, but it is anticipated they will hit first-half results for French and German insurers, notes a…
Floods in U.K. expected to produce repair bill of £1.3 billion, good progress on repairs to date
May 26, 2016 by Canadian UnderwriterThe average cost of a domestic claim for the floods caused by Storms Desmond, Eva and Frank – which hit the United Kingdom in December and early January – is higher than usual, with the Association of British Insurers (ABI)…
AIR estimates Fort McMurray wildfire insured losses at between $4.4 billion and $9 billion
May 17, 2016 by Canadian UnderwriterIndustry insured losses from the Fort McMurray wildfire that began May 1 and is still being fought today is estimated at $4.4 billion to $9.0 billion, AIR Worldwide reported late Monday. The catastrophe modelling firm notes the estimate reflects insured…
Insured losses from Japan earthquakes in April could be between US$1.7 billion and US$2.9 billion
May 12, 2016 by Canadian UnderwriterInsured losses from the two earthquakes that struck Japan in April could be as high as US$1.7 billion to US$2.9 billion, with economic losses of US$5.5 billion to US$7.5 billion, industry experts suggested on Wednesday. Guy Carpenter & Company, a…
Global economy suffers worst natural disaster losses in April in five years: Aon Benfield report
May 5, 2016 by Canadian UnderwriterThe global economy suffered the worst natural disaster losses in April in five years, according to Impact Forecasting’s Global Catastrophe Recap for the month. Between April 14 and 16, two major earthquakes struck Japan within 24 hours, causing massive devastation,…
Third Texas hail storm in less than a month could push state’s year-to-date damage beyond nine-year average for U.S.: A.M. Best
April 25, 2016 by Canadian UnderwriterTexas’s third major hail storm in less than a month on Apr. 11 could push the state’s damage so far this year to beyond the nine-year average of US$1.2 billion for the whole of the United States, notes a report…
At least US$350M in insured losses from Ecuador quake that killed more than 500: AIR
April 22, 2016 by Canadian UnderwriterAs Ecuador continues to suffer aftershocks from a major earthquake the evening of April 16, catastrophe modeling vendor AIR Worldwide estimates insured losses could exceed $1 billion. In an alert published Thursday, Boston-based AIR Worldwide said it estimates that industry…
Recent quakes a reminder of the importance of insurance options in U.S.: III
April 19, 2016 by Canadian UnderwriterMany states in the United States face risks from earthquakes, yet only about 10% of surveyed homeowners on the West Coast have purchased related coverage, reports the Insurance Information Institute (III). Recent earthquakes in Ecuador and Japan serve as a…
Total economic losses from March winter storm in Ontario and Quebec estimated at $130 million: Impact Forecasting
April 6, 2016 by Canadian UnderwriterTotal economic losses from a winter storm in Ontario and Quebec in March were estimated to approach $130 million (US$100 million), while insurers anticipated losses well into the tens of millions in U.S. dollars, according to Impact Forecasting’s Global Catastrophe…