Secondary peril events such as wildfires, tornadoes and severe thunderstorms are becoming more impactful and generating an increasingly larger amount of insured losses, affecting the bottom lines of personal and commercial lines property underwriters. The growing frequency of severe weather …
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 …
Annual U.S. severe weather insured losses for 2021 have surpassed $20 billion after a rough October, even before the year is complete, according to a new Aon report. Multi-billion-dollar natural catastrophe-related insurance losses in the U.S. were caused in part …
Modeling firm AIR Worldwide has updated its insured loss estimates for Hurricane Ida and now projects that Ida’s insured industry losses will range from $20 billion to $30 billion. The estimate includes inland flood impacts across the entirety of Ida’s …
Weather disasters are striking the world four to five times more often and causing seven times more damage than in the 1970s, the United Nations weather agency reports. But these disasters are killing far fewer people. In the 1970s and …
Insurance industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from $17 billion to $25 billion. AIR’s modeled insured loss estimates include insured physical damage to property (residential, commercial, industrial, auto), both structures …
German insurers face claims of about 11.5 billion euros ($13.6 billion) in 2021 after extensive flooding and hail storms, Germany’s insurance lobby GDV said on Thursday. It could be the most expensive year for insurers since the GDV began keeping …
Devastating floods in western Germany last month likely caused insured damage to the tune of about 7 billion euros ($8.2 billion), an insurance industry group said Wednesday, significantly increasing its previous estimate. More than 180 people died in Germany and …
Catastrophe modeling firm the Karen Clark & Company (KCC) estimates that the insured loss to onshore properties from Hurricane Grace will be around $330 million—$300 million in Mexico and $30 million in the Caribbean. The estimate is based on the …
If you’re having trouble wrapping your mind around the spree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California and Siberia —you may be interested to know …
