insured losses News

National Security Group Reports on 13 Cat Losses in First Half of 2017

The National Security Group, Inc., which offers property, casualty, life, accident and health insurance in ten states, released estimates of year to date catastrophe losses through June 30, 2017 incurred by property and casualty subsidiary National Security Fire & Casualty. …

Building Code Adoption, Enforcement Critical to Reducing Losses

When building codes are adopted and enforced, there is a substantial reduction in loss, according to Christopher Miller, technical director for ISO’s Building Code Effectiveness Grading Schedule (BCEGS). During an audio interview with Claims Journal, Miller explained that it’s not …

2016 Global Natural Catastrophes Up 42% From Prior Year

Total economic losses from natural catastrophes and man-made disasters amounted to $175 billion in 2016, almost twice the $94 billion seen in 2015, the latest sigma study from the Swiss Re Institute says. Global insured losses from disasters were $54 …

Munich Re: 2016 Global Natural Catastrophe Losses Climb, Total $175B

A number of devastating earthquakes and powerful storms made 2016 the costliest twelve months for natural catastrophe losses in the last four years, according to Munich Re. Losses totaled $175 billion, more than two thirds above the previous year and …

Swiss Re Estimates 2016 Cat Insured Losses at $49B

Earthquakes, hail, thunderstorms and Hurricane Matthew resulted in the largest insurance losses in 2016. Total economic losses from natural catastrophes and man-made disasters in 2016 are estimated to be $158 billion in 2016, according to figures released by Swiss Re. …

With Insured Losses Estimated at $8.5-$11B, Louisiana Looks to Recovery

Catastrophe modeling firm AIR Worldwide estimates that industry ground-up insurable losses—which include exposures eligible for coverage (regardless of whether they are actually insured) without any application of deductibles or limits—from the flooding in Louisiana caused by excessive rainfall during August …

Texas Storms Drive Up Catastrophe Losses in First Six Months of 2016

Economic losses caused by natural catastrophes in the first half of 2016 totaled $17 billion as compared to 2015 losses totaling $12 billion. The total includes insured losses of $11 billion as compared to $ 8 billion the prior year. …

Early April Ohio Storms Cause $52.6M in Insured Losses

An early April storm caused significant property losses in Ohio and several other states. According to the Ohio Insurance Institute (OII) and Property Claim Services (PCS) high winds and accompanying rains across the Buckeye state caused between $52.6 and $57.8 …

Alberta Fires Worse on Canada Economy Than Katrina Was for U.S.

Intact Financial Corp. may post insured losses of as much as C$1.1 billion ($850 million) from the wildfires in Alberta, which could dent the Canadian economy harder than Hurricane Katrina hit the U.S. Intact, Canada’s biggest property and casualty insurer, …

Deadly Tornadoes, Floods Contribute to $4B in December Losses in the U.S.

Violent storms that struck the U.S. in December will cost more than $4 billion in damages, about half of which will probably be covered by insurers, according to estimates by Aon Plc. The disasters at the end of the month …