According to catastrophe modeling firm AIR Worldwide, a 6.3 earthquake struck 55 miles southeast of Bandar Bushehr near Iran’s southwest coast, however insurance losses are expected to be minimal. According to the United States Geological Survey (USGS), the earthquake occurred …
A new inspection program certifying that the lightning protection systems installed at homes and businesses comply with national safety standards is growing rapidly in popularity and meeting customer demand for new features. The Lightning Protection Institute (LPI), which developed and …
Insurance companies have been working hand in hand with the Tasmanian Government this week to help bushfire victims start rebuilding their lives. As of today, insurers have received 1783 claims, with insurance losses estimated at $86.7 million. About 85 percent …
While global economic losses were close to average in 2012, insured losses last year were 36 percent higher than the 10 year average ($72 billion vs. $53 billion) because the two most costly events of the year occurred in the …
In 2011, insured losses from global natural catastrophes exceeded $110 billion according to industry sources, the second-highest figure ever recorded. A new report from catastrophe modeling firm AIR Worldwide reveals that there is nearly a 7 percent probability that the …
Texas recorded seven catastrophic weather events in 2012 that resulted in $2.3 billion in insured losses. The Dallas/Fort Worth area received the brunt of the damage from tornadoes and hail storms that occurred in April and June. The multiple tornadoes …
Assurant Specialty Property announced expected losses from Superstorm Sandy to be in the range of $200 million – $220 million on a pre-tax basis and net of reinsurance. Based on this estimate, the Company does not expect to exceed the …
Superstorm Sandy wreaked havoc on parts of the U.S. East Coast in late October after tearing through the Caribbean. In the weeks since, the storm’s scope has come into sharper focus. Deaths Sandy killed at least 125 people in the …
Catastrophe modeling firm AIR Worldwide now estimates that insured losses from Sandy will be between $16 and $22 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time …
Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said on Tuesday. Sandy …