Seven states experienced at least $1 billion in total insured severe weather loss for the first half of 2023, according to an update from BMS Group. Texas led all states with insured severe weather loss of $7.2 billion while Illinois, …
The Texas Senate Business and Commerce Committee on March 9 heard testimony on a revised bill that aims to limit the number of policyholder lawsuits filed against property insurance companies following severe weather events. At the hearing, Senate Business and …
Tornadoes touched down in Mississippi and Alabama as thunderstorms swept through the area Tuesday, while a powerful snowstorm buried parts of Colorado and Nebraska in more than a foot of snow before crawling into the Upper Midwest. Greg Flynn, spokesman …
According to preliminary estimates from Swiss Re’s latest sigma report, insured losses from natural catastrophes and man-made disasters in 2013 are estimated to be around $44 billion, down from $81 billion in 2012. Insured losses from natural catastrophes are at …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has launched its new weather reinsurance product that offers insurers protection against adverse weather losses in the UK. The new coverage, named WExcess, provides index-based coverage. It was …
