In 2013, there were 296 separate natural disaster events that produced total economic losses of $192 billion – four percent below the 10-year average of $200 billion, but above the average 259 events, according to a report by global reinsurance …
Global prices for reinsurance policies up for renewal on Jan. 1 declined amid an oversupply of capital in the industry, according to a unit of Marsh & McLennan Cos., the world’s largest insurance broker. Rates for property-catastrophe reinsurance fell 11 …
Catastrophe modeling firm AIR Worldwide estimates that total damage to residential, commercial, and agricultural properties from Super Typhoon Haiyan will range between $6.5 billion and $14.5 billion. However, because insurance penetration in the region is relatively low, AIR estimates that …
Insurers nursing hefty losses from severe spring floods in Europe face paying out a similar amount again after areas of Germany and France were repeatedly pounded by grapefruit-sized hail stones over the summer. Analysis from the reinsurance arm of broker …
XL Group Plc, the insurer led by Chief Executive Officer Mike McGavick, said July hailstorms in Germany and France cost the company about $60-million before tax. Most of the losses were in the reinsurance segment, Dublin- based XL said today …
The Ohio Insurance Institute says the severe storms that hit the state in July resulted in insured losses of at least $71 million. The Columbus Dispatch reports the group on Monday released the results of a survey of 26 insurance …
A massive hailstorm that moved through Amarillo, Texas on May 28 has resulted in $500 million in insured losses to the panhandle region. The final figure was released today by the Property Claim Services of the Insurance Services Office (ISO) …
A leading insurance company says last month’s floods across central Europe will likely cost insurers up to $4.5 billion. The Elbe, the Danube and other rivers overflowed their banks in early June following persistent heavy rain, causing extensive damage in …
State Insurance Commissioner Ralph Hudgens says a storm that hit Georgia June 13 caused an estimated $50 million in insured losses. Hudgens said Monday that the figure could rise once all the claims associated with the storm are settled. The …
Water levels in Calgary subsided and crews are working to restore power as officials confirmed a fourth fatality in the worst flood in Alberta’s history. Insured losses to the province are forecast to be C$2.25 billion ($2.15 billion) to C$3.75 …