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Feature

North American Insurance Conference: Dawn of a New Day

January 1, 2003 Vikki Spencer

The financial numbers for insurers and reinsurers across North America are not good – but they may only tell part of the story of the property and casualty insurance industry’s woes. It has become a familiar refrain, the need to

Feature

Lili damage estimate at US$335 million

November 1, 2002 by Canadian Underwriter

The U.S. Insurance Services Office (ISO) is estimating insured damage from Hurricane Lili at US$335 million. The hurricane hit Louisiana and parts of Mississippi in early October. Lili had swept the coast of Mexico as a category 4 hurricane, but

Feature

U.S. insurers incur US$675 million cat loss for 3-Q (November 01, 2002)

November 1, 2002 by Canadian Underwriter

U.S. insurers will likely pay about US$675 million in catastrophic claims for the third quarter of this year, according to the Insurance Services Office Inc. (ISO). Cat costs for the first nine months of this year amount to US$3.7 billion.

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U.S. insurers incur US$675 million cat loss for 3-Q (October 28, 2002)

October 28, 2002 by Canadian Underwriter

U.S. insurers will likely pay about US$675 million in catastrophic claims for the third quarter of this year, according to the Insurance Services Office Inc. (ISO). Cat costs for the first nine months of this year amount to US$3.7 billion.Losses

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Lili damage estimated at US$335 million

October 18, 2002 by Canadian Underwriter

The U.S. Insurance Services Office (ISO) is estimating insured damage from Hurricane Lili at US$335 million. The hurricane hit Louisiana and parts of Mississippi in early October.Lili had swept the coast of Mexico as a category 4 hurricane, but was

News Insurance

Lili losses less than US$500 million, predicts EQECAT

October 9, 2002 by Canadian Underwriter

With the downgrade of Hurricane Lili to Category 2 prior to landfall in Louisiana, it is now estimated that U.S. insurers will suffer less than US$500 million in property wind damage claims, says catastrophe management services company EQECAT.While there is

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Early Lili estimates around $600 million: AIR update

October 4, 2002 by Canadian Underwriter

An early update on Hurricane Lili’s impact on Louisiana suggests that losses with be in the billions. An alert from AIR Worldwide Corp. suggests that wind damage from the category 2 hurricane alone could reach US$600 million. The AIR tropical

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Hurricane Lili damage less than anticipated: RMS

October 4, 2002 by Canadian Underwriter

Hurricane Lili will not be the insurance loss originally feared, predicts California-based Risk Management Solutions.Originally, when Lili was a category 4 hurricane, 24 hours before landfall, the company’s probability system at www.riskonline.com had predicted mean losses of US$3.2 billion. There

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Isidore wreaks US$100 million damage on Louisiana (October 01, 2002)

October 1, 2002 by Canadian Underwriter

Insurers in Louisiana will be paying out US$100 million in the wake of Tropical Storm Isidore, according to the state’s insurance regulator.Acting insurance commissioner Robert Wooley says the storm, which hit largely in the south part of the state, caused

Feature

Isidore wreaks US$100 million damage on Louisiana (October 01, 2002)

October 1, 2002 by Canadian Underwriter

Insurers in Louisiana will be paying out US$100 million in the wake of Tropical Storm Isidore, according to the state’s insurance regulator. Acting insurance commissioner Robert Wooley says the storm, which hit largely in the south part of the state,

News Insurance

Lighter than normal hurricane season expected, scientists say

August 8, 2002 by Canadian Underwriter

Researchers at Colorado State University’s hurricane forecast team say this year’s hurricane season should be less punishing than previously thought. Despite the recent appearance of tropical storms Arthur and Bertha in the Atlantic basin, atmospheric conditions since the start of

Feature

Risk Management: The Road Less Traveled

August 1, 2002 Vikki Spencer

For risk managers facing January renewals on their insurance portfolios, 2002 was the year of sticker shock and worse. Along with dramatic price increases came new exclusions for mold, cyber risks and terrorism, reduced limits and a struggle to find capacity in the marketplace. But is the headache over? Risk managers expect that it is not, bracing themselves for an uncertain future and wondering when will the hard market end. And many are also looking seriously at options beyond insurance that may have held little appeal in the buyer’s market, but are becoming increasingly attractive in the current seller’s market. At the same time, there is recognition that captives, reciprocals, capital markets and more represent uncharted territory which many within the risk management profession find daunting.