Based on high resolution wind and storm surge models, Karen Clark & Company (KCC) has estimated that the insured loss in the U.S. from Hurricane Nate will be close to $500 million. KCC’s modeled loss estimates include insured wind and …
The Insurance Council of Australia (ICA) this morning declared a catastrophe for storm-affected parts of New South Wales [NSW], in particular the Central Coast, Hunter, Greater Sydney Metropolitan and Illawarra regions. The ICA said that “as of 7am insurance companies …
Swiss Re said it estimates industry wide insured losses from the hail storms in northern and Southern Germany in July will be between $2.0 and $2.7 billion, while it’s estimating its own claims burden to be approximately $240 million. The …
Power outages in the Canadian oil capital of Calgary could last for weeks or even months, city authorities said on Sunday, as record breaking flood waters moved downstream to threaten smaller communities in southeastern Alberta. Even as officials told 65,000 …
Swiss Re announced that its estimates of claims from Hurricane Sandy are around $900 million, net of retrocession and before tax. The bulletin warned, however, that “this estimate is subject to a higher than usual degree of uncertainty and may …
A report from Willis Re notes that “UK insurers may see increases of up to 97 percent in their capital requirement for catastrophe exposures under Solvency II rules when making calculations under the new Risk Management Solutions’ model version 11, …
Swiss based insurance advisor PERILS has issued an updated loss report for windstorm Joachim, which occurred from December 15 to 17, 2011 in Western Europe. PERILS’ third property market loss announcement estimates for Joachim is €285 million [$359 million], slightly …
Bermuda-based Platinum Underwriters Holdings, Ltd. announced that it expects major catastrophe losses will have a net negative impact of approximately $24.8 million on the Company’s results for the quarter ended March 31, 2012. The company explained that the losses were …
PERILS, Europe’s catastrophe data provider, has updated its loss report for windstorm Joachim, which occurred from December 15 to 17, 2011 in Western Europe. The second published loss estimate for Joachim is €289 million [$377 million] Thie figure is down …
According to PERILS, the Zurich-based catastrophe data provider, initial loss estimates for property losses caused by windstorm Andrea, which struck Western Europe at the beginning of January, are €267 million [$350 million]. The majority of the losses occurred in Germany, …
