Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader Munich Re said it expected the …
Two House subcommittees have scheduled a joint hearing today on ways to address homeowners insurance costs in disaster-prone communities, an issue that has some environmentalists, taxpayer groups and insurers standing together. Testimony at today’s hearing will revisit the Homeowners Defense …
Salina, Kan., city officials said that the Federal Emergency Management Agency’s new floodplain map is just plain wrong and they will consider appealing the floodplain maps for the south part of town. Most of the concern regarding the remapping is …
Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates are “net of the benefits of retrocession.” …
Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on February 27, 2010, “will be in the range …
Floods caused by heavy rains have cut off several townships in Australia’s northeastern Queensland state and caused hundreds of millions of dollars in damage, the state’s premier said Sunday. Premier Anna Bligh toured an affected community- St. George, a town …
Chances remain high for major spring flooding in some Minnesota cities along rivers as a heavy winter snowpack melts, the National Weather Service said. But city officials remain confident their towns can handle high water that might approach 2001 flood …
Boston-based risk modeling firm AIR Worldwide estimated that the insured losses from the winter storm that struck the East Coast between February 23 and 28 will be between $150 million and $350 million. Total Insured losses from two prior storms …
An earthquake, initially measured at magnitude 6.0, struck eastern Turkey early this morning, March 8, centered in the Province of Elazig. A report from Risk Management Solutions indicates that the U.S. Geological Survey (USGS) placed the quake’s “fixed focal depth …
The White House has approved Oklahoma Gov. Brad Henry’s request for a major disaster declaration for the Jan. 28 ice storm. Under the declaration issued March 5, 25 counties will receive public assistance for expenses related to response to and …
