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The Effects Of Natural Disasters On Insurers Are Coming Home To Roost

Record floods that submerged parts of the Midwest as a result of a deadly combination of melting snow and heavy rains have caused $3 billion in damages so far, and more flooding is in the forecast, according to news reports. This recent natural catastrophe is once again sending warning signals about the intensifying weather-related events that are likely to continue impacting the US in the years to come, including regions that typically haven’t seen wild weather in the past.
April 10, 2019 Catastrophe Risk Management

Will Climate Change Impact Reinsurance Rates?

In 2018, natural catastrophes wreaked havoc around the world. Windstorms caused massive losses in the United States, Japan and the Philippines. Droughts hit the United States and Europe, and unusually large wildfires caused devastation in California.
April 3, 2019 Catastrophe Risk Management

Earthquake, Magnitude 3.5, Wakes Up Orange County With Light Shaking

An earthquake of magnitude 3.5 produced light shaking from its epicenter in Orange County on Wednesday morning.
April 3, 2019 Catastrophe California

Californians Sue DOI For Allowing Unlicensed, Out-Of-State Adjusters After Wildfires

Californians have filed a lawsuit against the state Department of Insurance for allegedly allowing unlicensed out-of-state insurance adjusters to offer their services after major wildfire events.
April 2, 2019 Catastrophe Legislation & Regulation Litigation Property Risk Management California

Impact Of Climate Change To Make Insurance Prohibitively Expensive, Says Munich Re

The largest reinsurance company in the world has cautioned that most people won’t afford coverage soon. For several years, insurance companies have been warning that the impact of climate change will be an expensive one.
March 29, 2019 Catastrophe Property Risk Management

U.S. Agency Error Exposes 2.3M Disaster Survivors To Fraud: Watchdog

The U.S. Federal Emergency Management Agency (FEMA) exposed 2.3 million disaster survivors to possible identity theft and fraud by improperly sharing sensitive personal information with an outside company, according to an internal government watchdog.
March 25, 2019 Catastrophe Fraud Litigation

Climate Change’s Fingerprints Are On U.S. Midwest Floods: Scientists

Climate change played a hand in the deadly floods in the U.S. upper Midwest that have damaged crops and drowned livestock, scientists said on Thursday, while a Trump administration official said more homework was needed before making that link.
March 22, 2019 Catastrophe Legislation & Regulation

Nearly Half Of Americans Don’t Have Home Inventory List In Case Of Disaster — Study

Nearly half of US residents have never made a home inventory list in case of a natural disaster, according to new data from Farmers Insurance.
March 21, 2019 Catastrophe Property Risk Management Alabama Alaska Arizona Arkansas California

The Private Sector Is Returning To The Flood Insurance Game

The private sector is returning to the risky world of insuring homes against flood damage, offering hope that the paltry percentage of homeowners with flood insurance will rise out of the single digits.
March 18, 2019 Catastrophe Legislation & Regulation Property

QBE Pours Cash Into Technology In Battle With Climate Change

QBE is taking a stand. It is loudly and proudly talking about the dangers of climate change and what needs to be done to stop it—including putting its own money on the line.
March 5, 2019 Catastrophe Risk Management Technology

PG&E Admits Its Equipment Likely Caused California’s Worst Fire

Pacific Gas & Electric Co. said Thursday that it was “probable” that its equipment caused the Camp fire that destroyed thousands of homes in Paradise, Calif., and killed 85 people in 2018.
February 28, 2019 Catastrophe Liability California

Managing A New Era Of Repairs: Restoration Trends To Watch In 2019

Historically, the insurance claims process for property damage starts with a claims professional assessing damage on-site and ends by giving a homeowner a check for fixing the damage. This old model places the responsibility on the property owner to research and vet qualified contractors to start the restoration process, a particularly heavy burden to bear in moments of crisis.
February 8, 2019 Catastrophe Education & Training Property Risk Management Technology

Natural Disasters In 2018 Cost The Nation $91 Billion In Damages

Natural disasters, fueled at least in part by climate change, cost the United States $91 billion in 2018, according to the National Oceanic and Atmospheric Administration.
February 7, 2019 Catastrophe California Florida North Carolina South Carolina

Judge Sees A ‘Clear-Cut Pattern’ Of California Utility Starting Wildfires

A federal judge who has emerged as a vocal critic of PG&E Corp.’s safety record, said the California utility giant has a “clear-cut pattern” of starting wildfires and needs “strong medicine” put in place before this year’s season begins.
January 31, 2019 Catastrophe Excess & Surplus Lines Liability Litigation California

Zurich: The World Is “Sleep-Walking Into Environmental Catastrophe”

Climate change is one of the most complex risks facing society today because of its impact on the wider economic and corporate landscape.
January 18, 2019 Catastrophe Risk Management
Aspen Claims ServiceMid-America Catastrophe ServicesKelmar GlobalU.S. Forensic