Bermuda-based RenaissanceRe Holdings Ltd. estimated that losses from Winter Storm Uri will have a net negative impact of approximately $180 million on the company’s first quarter 2021 results of operations. Winter Storm Uri was a major wind and ice storm …
PERTH, Australia (AP) – A destructive cyclone has damaged several towns on Australia’s western coast, shattering windows, snapping trees and knocking out power. There have been no reports of serious injuries. Tropical Cyclone Seroja crossed the Western Australia state coast …
Multiple U.S. severe weather outbreaks, including tornadoes, hail, and flooding, resulted in losses of more than $1 billion for public and private insurers during March, with economic costs approaching $2 billion, according to Aon’s monthly Global Catastrophe Recap report, which …
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry …
The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event for the reinsurance industry, according to Fitch Ratings. This event will reduce global reinsurers’ earnings but should not materially affect …
ISMAILIA, Egypt – Shipping was on the move again late on Monday in Egypt’s Suez Canal after tugs refloated a giant container ship which had been blocking the channel for almost a week, causing a huge build-up of vessels around …
The Insurance Council of Australia (ICA) has declared a Catastrophe for large parts of New South Wales, a state in southeast Australia, following the devastating storms and flooding of the last few days. The ICA’s catastrophe declaration serves to escalate …
PITT TOWN, Australia — Australia was set on Monday to evacuate thousands more people from suburbs in Sydney’s west, battered by the worst flooding in 60 years, with torrential rains expected to continue for another day or two. Reuters images …
February saw a spate of winter storms in the United States, including the period from Feb. 12-20, which will become the U.S. insurance industry’s costliest winter weather peril on record, according to insurance broker Aon plc in its monthly Global …
MECENCANI, Croatia – After the deadly earthquake came the sinkholes. A central Croatian region about 40 kilometers (25 miles) southwest of the capital, Zagreb, is pocked with round holes of all sizes, which appeared after December’s 6.4-magnitude quake that killed …
