April 7, 2016
Insurers face a $2.0 billion bill following seven severe storm events across multiple states in March, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Overall economic losses sustained to property, infrastructure and agriculture across the U.S. from these …
April 4, 2016
The U.K.’s new joint industry and government sponsored reinsurance scheme for flood risk began operating today (April 4). Designed to help provide access to affordable flood insurance cover for households at the highest risk, Flood Re expects up to 350,000 …
March 25, 2016
One of the strongest El Niño periods on record and a positive phase of the North Atlantic Oscillation were the climate drivers in 2015 that led to an exceptional season of Pacific tropical storms and severe windstorms and flooding in …
March 24, 2016
Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to an initial loss estimate of £526 million ($745.2 million), according to PERILS, the independent Zurich-based organization that provides …
March 16, 2016
Britain’s finance minister George Osborne said on Wednesday he would raise the tax on motor and home insurance premiums by 0.5 percentage points to 10 percent to fund flood defenses, boosting insurance shares as the rise was smaller than anticipated. …
March 8, 2016
The Southern Hemisphere registered its strongest tropical cyclone on record during February with Tropical Cyclone Winston, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. With maximum sustained winds of 295 kph (185 mph), Tropical Cyclone Winston made landfall …
March 4, 2016
PERILS AG disclosed its second, revised loss estimate for the floods which hit the UK from Dec. 4 to 24 following Storm Desmond. The latest estimate of the property insurance market loss is £662 million (933.2 million), compared to the …
February 23, 2016
Swiss Re AG reported fourth-quarter profit that beat estimates after a quiet year for natural catastrophes and announced that Christian Mumenthaler, head of the company’s main reinsurance unit, will take over as chief executive officer on July 1. Net income …
February 22, 2016
A joint federal/state disaster recovery center opened in Jefferson County Feb. 20 to help those whose homes or businesses were affected by severe storms, tornadoes, straight-line winds and flooding in December and January, Representatives from the Arkansas Department of Emergency …
February 22, 2016
The National Weather Service says that the threat of substantial spring flooding in North Dakota is low, including along a river in the eastern part of the state that has caused millions of dollars of damage in the last decade. …