French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax, which “represents approximately 3 percent of the projected …
XL Capital Ltd’s preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia indicated they will total between $160 and $230 million. Preliminary loss estimates related to the Chilean Earthquake, pretax and net of reinsurance and reinstatement …
When the swollen Red River threatened his house in Moorehead, Minn., last spring, all Mark Baumgardner could do was pack up, leave and hope he wouldn’t lose everything, since didn’t have flood insurance. In the end, his house was spared. …
The Army Corps of Engineers will begin taking proposals next month for permanent replacements for pumps and floodgates at the three canals where waters poured into New Orleans after Hurricane Katrina, officials said March 16. An agreement that accommodates proposals …
A bulletin from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) indicates that many of its member countries “are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.” There are currently sixteen Caribbean governments, who, since 2007, …
The Mississippi River is starting its spring climb with forecasters predicting a rise of more than a foot a day beginning at midweek. The result could be another year of flooding in the Vicksburg area. “Right now, we’re looking at …
Major flooding has begun and is forecast to continue through spring in parts of the Midwest, according to the National Weather Service. The South and East are also more susceptible to flooding as an El Niño influenced winter has left …
The U.S. Senate has passed a measure to extend the federal flood insurance program until Dec. 31, 2010. The Senate-approved extension is a provision in a bill, American Workers, State, and Business Relief Act of 2010 (H.R. 4213), which extends …
Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America, where they cost insurers over $12.7 billion. “The death …
Hiscox Ltd. announced from its Bermuda headquarters that, from initial estimates, based on an insured market loss of US$8 billion for the Chilean earthquake, and US$3 billion for windstorm Xynthia, it estimates a combined net loss of approximately £100 million …
