A lawsuit filed by 131 insurance companies alleges that negligence by the organization that operates Texas’ electrical grid and power companies caused electricity outages during the deep freeze last February that burst pipes and shut down power across the state …
The wildfire that ignited on Dec. 30 in Boulder County, Colorado destroyed 1,000 structures and caused insured losses of about $1 billion, catastrophe modeler Karen Clark & Co. said Wednesday. The blaze, called the Marshall Fire because it it started …
LONDON–Insured losses of $44 billion from COVID-19 so far represent the third largest cost to insurers of any catastrophe, behind Hurricane Katrina and the 9/11 attacks, insurance broker Howden said on Tuesday. However, initial projections of $100 billion-plus for COVID-19 …
Devastation from tornadoes that slammed parts of the United States this month will push the insurance industry’s 2021 bill for weather-related claims well above the predicted $105 billion, industry experts said, and premiums should rise on worries that climate change …
Insured losses from the swarm of tornadoes and severe convective storms that caused destruction in parts of the United States this month could amount up to $5 billion, industry experts said on Tuesday. Catastrophe modeling firm Karen Clark & Company …
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising rates. The Lloyd’s of London insurer …
Insured losses from Hurricane Ida are now creeping into the $30 billion range after catastrophe modelers added damage to properties in the Northeast, putting the catastrophe on par with Hurricane Irma and Harvey in 2017 and Superstorm Sandy in 2012. …
Hurricane Ida and Hurricane Katrina in 2005 made landfall within 50 miles of one other and each carried 150 mph winds at one point, but the amount of death and destruction caused by the two storms was vastly different because …
LONDON — Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on Wednesday. …
Swiss Re warned insurers Tuesday that secondary perils such as thunderstorms and wildfires are making up a growing share of the losses caused by natural catastrophes, even in a year that experienced an abnormally active North Atlantic hurricane season. The …