Hurricane Irene, threatening to become the first hurricane to hit the United States in three years, could be the catalyst the insurance industry has been seeking in its quest for across-the-board premium increases after years of weakness. Like speculators in …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been gearing up to face the 2011 Atlantic Hurricane Season by “providing assistance to Caribbean nations to prepare for the tropical cyclones that are expected to affect the region.” The CCRIF said …
Forecasters at Weather Services International stuck with their earlier prediction that the 2011 Atlantic hurricane season would bring 15 tropical storms, with eight of those growing into hurricanes. Four of those were expected to strengthen into “major” hurricanes of Category …
The La Nina weather anomaly, blamed for one of the worst droughts in the southern United States, could revive this autumn, the U.S. Climate Prediction Center forecast on Thursday. In its monthly report, the CPC said wind circulation consistent with …
Catastrophe risk modeler Eqecat has scheduled July 15 as the date to release three significant revisions to its Worldcatenterprise 3.16 platform. The updates cover Eqecat’s North Atlantic hurricane model, its Canada earthquake model and its Asia typhoon model. These updates …
Two weeks into a new hurricane season, Florida officials are continuing to express their concerns over possible policyholder assessments by Citizens Property Insurance despite the relative financial strength of the state’s government-run homeowners’ insurer. Given the insurer’s current financial resources, …
As weather forecasters predict an above-normal number of hurricanes this season, chances also increase that one of the storms will hit the mid-Atlantic states. The News Journal of Wilmington (Delaware) reports that the region’s last hurricane-related encounter was with remnants …
Virginia regulators are urging homeowners to review their insurance policies with the start of hurricane season this week. The State Corporation Commission, which regulates insurers, said that some companies automatically include a deductible for wind or hurricane losses in their …
The reinsurance world has always been a bit arcane, but rarely to the extent it appears to be right now. Henry Keeling, the president and CEO of Guy Carpenter’s international operations, noted at the European Insurance Forum in Dublin that …
Property and casualty insurers craving respite from a long-running drop in prices are eyeing the start of the U.S. hurricane season next week in the hope that summer windstorms will finally turn the market. The June 1 to Nov. 30 …
