In addition to the $5.2 billion in agricultural losses as a result of the drought in Texas this year, an additional $150 million in losses can be attributed to wildfires, according to state agriculture experts. Dr. Andy Vestal, Texas AgriLife …
A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial performance. “Results for 2010 also provided further …
Lloyd’s of London reported the largest first half loss in its 323 year history yesterday, Sept. 21 – £697 million, or over $1 billion. However, Lloyd’s Chief Financial Officer, Luke Savage, was relatively calm when he spoke with the IJ …
The airline industry had a “relatively turbulent free start to the third quarter, with losses hitting a five-year low of $794 million,” according to the latest report from the Aerospace division of Willis Group Holdings. . The company’s monthly Airline …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp. has released the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial position of the world’s 28 leading reinsurers as of June 30, 2011, …
While Tropical Storm Lee drenched Southeast Louisiana with up to 15 inches of rain over the weekend, the low pressure system whipped up strong northwesterly winds across Texas that are blamed for the rapid spread of numerous wildfires burning tens …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that, “while Hurricane Irene resulted in registered losses in six of its member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St. Kitts & Nevis and the Turks & Caicos Islands), none …
A.M. Best has begun an assessment of the potential financial impact Hurricane Irene’s passage through the Caribbean and up the East coast of the U.S. might have on the property/casualty industry in the U.S., Caribbean as well as the global …
The Independent Insurance Agents & Brokers of New York has issued a timely warning in the wake of the earthquake that struck the east coast yesterday afternoon, which affected many New York residents. The IIABNY reminded consumers that their homeowners …
The earthquake that struck Virginia and rattled the Eastern United States Tuesday caused less than $100 million in insured losses, catastrophe modeling company Eqecat said. Eqecat said the relatively weak nature of the earthquake kept losses from being worse. Had …
