August 29, 2022
The faded and weathered construction permits still taped to Houston resident Mal Moses’ front door are reminders of the difficulties he faced in trying to get his mold-infested walls and leaky roof repaired after Hurricane Harvey in 2017. But living …
February 13, 2018
Hurricane Harvey resulted in nearly 670,000 in combined personal and commercial property insurance claims to private insurers, the Texas Windstorm Insurance Association (TWIA) and the Texas Fair Access to Insurance Requirements Plan (FAIR Plan), insurance regulators said in a presentation …
January 11, 2018
Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …
December 20, 2017
Swiss Re AG estimates that global insured losses from catastrophes in 2017 will hit $136 billion, the third-highest on record for the sector, with the United States hardest hit, it said on Wednesday. Total economic losses from natural and man-made …
December 6, 2017
The Federal Emergency Management Agency (FEMA) is seeking to recover the full $1.042 billion of its reinsurance coverage to help pay the federal flood insurance program’s losses from Hurricane Harvey. Those paid losses exceeded the minimum threshold for the NFIP’s …
November 29, 2017
The Lloyd’s market has paid claims worth US$1.7 billion, to date, in response to Hurricanes Harvey, Irma and Maria. Earlier this year Lloyd’s estimated a total commitment of US$4.8 billion for the three storms. Lloyd’s brokers are receiving money from …
November 20, 2017
Cumulative net catastrophe losses for reinsurance companies from Hurricanes Harvey, Irma and Maria, along with the Mexico earthquakes, are between $20 billion-$25 billion out of an overall industry loss of $90 billion, according to calculations issued by A.M. Best. “We …
November 13, 2017
After one of the worst Atlantic hurricane seasons in history, the world’s biggest insurers say the industry needs to get its act together if it wants to survive climate change. Insuring against weather natural disasters could reach unaffordable levels for …
November 9, 2017
Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re said on Thursday. Damages from storms Harvey, Irma and Maria of that magnitude would exceed by far …
November 2, 2017
Lancashire Holdings Ltd reported a third-quarter pretax loss after what looks set to be the costliest quarter ever for insurers and reinsurers due to natural catastrophes, but said it was seeing some evidence of an increase in pricing. The property …