Two new hurricane forecast models promise to help property owners and insurers better predict the losses from storms that may be increasing in intensity as ocean waters continue to warm. The National Hurricane Center announced just ahead of the 2023 …
A vehicle involved in a traffic accident careened into a Houston-area Cadillac dealership and struck a row of Escalades, triggering a fire that destroyed six of the pricey SUVs. The general manager of the dealership, Steven Hainline (hay-LINE’), says the …
XL announced its preliminary net loss estimate related to Storm Sandy of $350 million, pretax and net of reinsurance and reinstatement premiums. Approximately 60 percent of the Company’s estimated loss relates to the reinsurance segment. Within the reinsurance segment, the …
The Hanover Insurance Group, Inc. announced a preliminary loss estimate from Storm Sandy, which produced widespread damage along the East Coast of the United States in late October. The Hanover currently estimates the net after-tax earnings impact of this storm …
The Travelers Companies’ preliminary estimate of net losses relating to Storm Sandy is approximately $650 million after tax and after estimated recoveries from reinsurance. This $650 million estimate reflects a gross loss estimate (pre-tax and before reinsurance) of $1.135 billion. …
A recycling and auto body shop has been destroyed by fire in western Wisconsin. The owner of Centerville Recycling near Trempealeau and two firefighters suffered smoke inhalation when the longtime family business went up in flames Sunday. Forty-four-year-old Alvin “Rob” …
The Cincinnati Insurance Companies’ property casualty group expects its second-quarter results to include pre-tax catastrophe losses, net of reinsurance, of approximately $150 million to $200 million incurred due to the more than 9,000 claims from policyholders who reported losses due …