Hurricane Charley Devastates Florida, Carolinas
September 1, 2004 by Canadian UnderwriterThe total insured loss from Hurricane Charley will likely top US$6.8 billion, says the U.S. Insurance Services Office (ISO), making it the second costliest hurricane to hit the U.S. behind Hurricane Andrew. The ISO says the category 4 hurricane, which…
Views (September 01, 2004)
September 1, 2004 by Canadian UnderwriterThe friends of Mike Yang are staging two events to raise funds for this industry veteran, who is recovering from a serious illness experienced last fall. Funds are needed to help Mike and his family modify their home and vehicle…
Lloyd’s: Canada Looking Good Again
September 1, 2004 Nicholas SmithThe transition from the previous “soft” to “hard” market impacted global property and casualty insurers significantly – with not all the players having survived the hardship of the pricing cycle. Many global insurers reduced capacity and ceased writing business in some countries and regions, with Canada having attracted a cautious outlook based on the perceived burdensome regulatory environment of doing business in the country. But, with the pricing corrections brought about by the hard market, Canada once again is drawing favorable attention.
Frances latest fear in Atlantic hurricane season
August 30, 2004 by Canadian UnderwriterAs Floridians continue to rebuild following Hurricane Charley, another intense storm is following in his tracks. Hurricane Frances, which as of Monday was classified as a category three storm, has the potential to hit Florida over the Labor Day weekend.On…
What’s new: In brief (August 29, 2004)
August 29, 2004 by Canadian UnderwriterCNA Financial Corp. is the latest to disclose preliminary loss estimates from Hurricane Charley, counting for a net loss of at least US$40-$60 million. The company notes, however, that losses could well exceed this early estimate. The Wholesale Insurance Group…
Charley highlights business coverage issues
August 26, 2004 by Canadian UnderwriterA new public service release from the Property Casualty Insurers Association of America (PCI) discusses the impact Charley has had on commercial interests in Florida. It notes that some covers which are not standard to businesses, but which can be…
Hamilton firm handles Charley claims
August 26, 2004 by Canadian UnderwriterA Hamilton call center is handling claims resulting from Hurricane Charley’s devastation in Florida, dealing with thousands of calls per day.ECHO Intake Solutions, a division of Cunningham Lindsey Canada, has been receiving calls from claimants since Charley hit Florida’s Gulf…
ISO pegs Charley loss at US$6.8 billion
August 25, 2004 by Canadian UnderwriterThe total insured loss from Hurricane Charley should be around US$6.8 billion, says the U.S. Insurance Services Office (ISO). ISO’s Property Claim Services unit says the category 4 hurricane, which hit Florida on August 13, will cause US$6.755 billion in…
What’s new: In brief (August 25, 2004)
August 25, 2004 by Canadian UnderwriterThe crash of two Russian airliners which left 89 dead late Tuesday is under investigation, with some speculating the cause is terrorism, but Russian officials saying there is no evidence of terrorism at this point. The outcome of this investigation…
TSR says another hurricane likely (August 23, 2004)
August 23, 2004 by Canadian UnderwriterOn the heels of Hurricane Charley devastating the Florida coast, Tropical Storm Risk (TSR) is predicting more of the same is on the way. TSR says at least one more hurricane force storm is expected to hit the U.S. coast…
Fairfax expects US$35 million Charley loss
August 23, 2004 by Canadian UnderwriterToronto-based Fairfax Financial Holdings says its companies could be exposed to losses totaling US$35-$45 million as a result of Hurricane Charley. The preliminary estimates, which are net of reinsurance, include Odyssey Re, Crum & Forster and Northbridge.Other insurers are beginning…
III pegs Charley loss at US$7.4 billion
August 19, 2004 by Canadian UnderwriterWith insured losses expected to reach US$7.4 billion, Hurricane Charley will likely be the second-most costly hurricane in U.S. history, says the Insurance Information Institute (III).With risk modelers casting estimates in the US$5-$10 billion range, the III says the total…