July 28, 2022
Global natural disasters during the first half of 2022 cost insurers about US$34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes, and storms during the first six months, according to …
June 14, 2022
As Western wildfires force evacuations in Arizona and California – on the heels of an early and severe wildfire season in New Mexico – insurers are increasingly eyeing the growing risks. “Insurers are very much concerned about the wildfire situation,” …
January 6, 2022
The Colorado wildfire that destroyed nearly 1,000 homes in late December will result in roughly $1 billion in losses, according to a report from catastrophe modeler Karen Clark & Co. On Dec. 30, a devastating late-season wildfire started off of …
December 15, 2020
RMS estimates insured losses from the record-breaking western U.S. wildfires this season will be between $7 and $13 billion. These losses reflect estimates as of Dec. 1. The ignition of the highly damaging Glass Fire and additional spread of the …
September 17, 2020
Dozens of wildfires raging in California, Oregon, Washington and other Western states have resulted in loss of life, damaged or destroyed about 9,657 homes and commercial structures and burned more than 5 million acres, according to the National Interagency Coordination …
August 31, 2020
Estimates for insured property losses associated with Hurricane Laura by catastrophe risk modeling firms Air Worldwide and Karen Clark and Co. (KCC) are similar — both fall into the $8 billion range — but they are not exactly the same. …
February 6, 2020
For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for them in the same …
September 12, 2019
Nearly 776,000 homes with a reconstruction cost value of more than $221 billion are at extreme risk of wildfire damage, a new report out Thursday shows. The 2019 CoreLogic Wildfire Risk Report examines single-family and multifamily residential properties at risk …
August 21, 2019
Severe wildfire seasons have made it harder for homeowners to find insurance in high wildfire-risk areas, according to new data collected by the California Department of Insurance. The data released this week from the CDI shows a 6% increase in …
July 23, 2019
Global risk modeling and analytics firm, RMS, has estimated that the insured U.S. losses from Hurricane Barry will not exceed $500 million. This estimate represents insured losses associated with wind, storm surge and inland flood damage, including losses to the …