According to the World Bank, the earthquake that shook Turkey back in February caused direct physical damage worth $34 billion. The Turkish Enterprise and Business Confederation, however, estimates the quake’s total economic impact will reach roughly $84.1 billion, including loss of productivity and national income.

Travelers, considered a bellwether for the insurance industry due to its size, said catastrophe losses doubled in its most recent quarter and the company swung to a loss as severe wind and hailstorms in a number of regions led to rising coverage claims.

U.S. population growth in hurricane-prone states, coupled with the increasingly heavy rainfall which accompany these storms, has generated costlier insurance claim payouts for wind and flood-caused property damage, according to the Insurance Information Institute (Triple-I).

Economic losses from catastrophic flooding across Vermont earlier this week could reach into the hundreds of millions of dollars or higher, Aon PLC said in a report Friday.

In response to the State of Emergency declared by Governor Phil Scott on July 9, the Vermont Department of Financial Regulation has announced a measure to allow property and casualty insurance carriers to utilize individual adjusters who are not licensed in Vermont.

COVID-19 restrictions led adjusters to shift claims work to desktop teams. The change was driven by client reluctance to meet in-person and employees’ desire to reduce site work until the risks were better understood.

Aon, a prominent global professional services firm, has successfully completed a ‘historic’ parametric insurance program for the Government of Puerto Rico.

Climatologists from Colorado State University have issued a revised forecast, predicting an above-average number of tropical storms and hurricanes this year due to unusually warm waters in the Atlantic Ocean.

Global reinsurance broker Gallagher Re released its latest 1st View renewals report, which highlights the trends and dynamics at the July 1 reinsurance renewals.

Two of the worst U.S. floods in 2022 ravaged homes, destroyed businesses and forced residents to evacuate for weeks. But homeowners in Florida and Kentucky are getting wildly different payments from a federal flood insurance program crucial to rebuilding and recovery.

Countless thousands of Americans this month found themselves racing for cover, fretting about cars and roofs, and covering their ears from the deafening roar of heavy hail. Time and again this spring, and especially during June, a relentlessly locked-in-place weather pattern has driven intense severe thunderstorms from the High Plains across the South and Midwest.

The insurance industry is increasingly wary of the risks presented by climate and natural disasters, prompting major firms to scale back their presence in more vulnerable states.

A recent analysis reveals that the federal assessment of extreme rainfall is significantly underestimating the likelihood of flood events, raising concerns about infrastructure development, flood insurance costs, and public safety.

When a NatCat occurs in Canada, it’s common for U.S. adjusters to be on the scene -- sometimes before Canadian adjusters, who are bound by provincial licensing restrictions.

And while processes for getting either country’s adjusters on the scene are complicated, Canadian adjusters are now benefitting from technology and following U.S. adjusting processes more closely.


But there’s still room for improvement.

It can be easier to mobilize adjusters between countries than in their respective countries thanks to the Agreement between the United States of America, the United Mexican States and Canada (USMCA), which replaced the North American Free Trade Agreement in 2020, said David Repinski, CEO at CRU Group.

The agreement is designed to reduce trade barriers among the three countries and makes it easier for Canadian insurers to bring in U.S. claims adjusters.

There are few for whom I have more respect than soldiers. Those men and women who choose to put themselves to the test in unimaginably difficult ways under extreme conditions, who risk life and limb in the service of their country, and who stand guard over liberty have my highest respect and deepest thanks.