The costliest global natural catastrophe for the insurance industry in 2015 was the series of winter storms that struck the northeast United States and Canada, according to Munich Reinsurance America, Inc. In the U.S., 2015 estimated natural catastrophe losses totaled …
Continuing a recent trend, the National Insurance Crime Bureau reports that insured metal theft claims in 2014 were down 8 percent from 2012 levels. In 2012, a total of 13,731 metal theft claims were processed. The number dropped to 13,632 …
Insurance Bureau of Canada (IBC) reports that insured damage caused by heavy rain, strong winds and a hailstorm that hit southern Alberta on August 4 and 5 caused more than $100 million in insured damage, according to preliminary figures from …
Two explosions in the Chinese port of Tianjin last week that killed more than 100 people could generate total insurance losses of $1 billion to $1.5 billion, Credit Suisse analysts said, citing initial estimates based on Chinese media reports. Tianjin, …
The Midwest’s New Madrid seismic zone is often eclipsed by San Andreas fault because of its less glamorous location and lower level of seismic activity, but our research indicates it’s a potentially crippling economic threat that warrants serious consideration. The …
According to catastrophe modeling firm AIR Worldwide, insured losses in China from Typhoon Chan-hom are unlikely to exceed CNY 2.2 billion (a little over US $354 million). “Typhoon Chan-hom made landfall in the coastal city of Zhoushan, China, on July …
A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and transportation, and potentially more than …
The number of insurance claims from lightning strikes in the United States continued its steady decline, as severe thunderstorm activity eased from near-record levels and dry weather prevailed throughout much of the western half of the country. Despite fewer storms, …
Storms moving through multiple states at the end of May including Texas, Oklahoma, Kansas and Arkansas, have resulted in more than 9,000 claims already filed across multiple states for Farmers Insurance. Since the storms struck, Farmers Insurance specialized catastrophe adjusters …
Economic losses from severe May storms, tornadoes and floods were estimated at nearly $3 billion, with insurance insured losses set to easily exceed $1 billion despite low flood insurance penetration in parts of Oklahoma and Texas, according to the latest …