By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is set to …
Insured losses in the Caribbean from Hurricane Dorian is estimated at $3.5 billion to $6.5 billion, according to RMS, the risk modeling and analytics firm. This estimate represents insured losses associated with wind and storm surge damage across the Caribbean …
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 …
When Norsk Hydro, one of the world’s largest aluminum producers, was hit by a major cyber attack in the early hours of March 19, it was already undergoing a major upheaval: just the day before the attack, the company’s long-standing …
Hurricane Florence caused extensive freshwater flood damage in the Carolinas and parts of Virginia in September—and about 70 percent of those flood losses will be uninsured, according to RMS. “The insured loss for Florence will be between $2.8 billion and …
The “new normal” for California has yielded another year of record wildfires and billions of dollars in insured losses. Homeowners insurance rates inch up in high risk areas, and carriers get more cautious about where they write in a state …
An analysis by catastrophe modeler RMS shows 15 wildfires are burning more than 280,000 acres in California have collectively destroyed nearly 7,000 homes and businesses and killed 31 people. Roughly 300,000 have been evacuated, while 12,000 firefighters are working on …
The Asia Pacific region remains highly vulnerable to major catastrophes, RMS said, announcing a list of 10 “1-in-100-year” events possible in the vast area that includes the Pacific Ring of Fire and the largest concentration of tropical cyclones. Without providing …
Hurricane Florence was downgraded to a Category 1 storm Thursday night, but it is still a major storm that will have a significant impact on North and South Carolina and cause considerable damage to the region. According to a “Hazard …
The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, …
