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Why The Sedgwick-Cunningham Deal Is Good For Adjusters

Sedgwick Claims Management Services Inc., a global provider of technology-enabled risk and benefits solutions, announced on Wednesday it has signed an agreement to acquire Cunningham Lindsey, a global loss adjusting, claims management and risk solutions firm.
December 7, 2017 Catastrophe Liability Property Risk Management

Insurers Should Improve Catastrophe Models: BOE

Insurers need to improve the way they calculate potential risks from natural catastrophes such as hurricanes, wildfires and earthquakes, the Bank of England said on Thursday, with 2017 expected to be a record year for such losses.
December 7, 2017 Catastrophe

October Wildfire Losses Top $9.4B: California Department Of Insurance

Insured losses from wildfires that raged through California in October topped $9.4 billion, the state’s insurance commissioner said on Wednesday.
December 7, 2017 Catastrophe Property California

Lloyd’s Of London’s Hurricane Payouts Reach $1.7B

The specialist Lloyd’s of London insurance and reinsurance marketplace has now paid out $1.7 billion in claims following hurricanes Harvey, Irma, and Maria.
December 4, 2017 Catastrophe Property Florida Texas

Horrific 2017 Atlantic Hurricane Season Ends With Many Still Reeling

The 2017 Atlantic hurricane season, which officially ends on Thursday, will go down as one of the most expensive in American history. The notorious storms of 2017 — hurricanes Harvey, Irma, and Maria — may have had innocuous names.
December 1, 2017 Catastrophe Property Florida Texas

Insured Damages From Irma Now Up To $670M In Georgia

Estimates of the damage caused when Hurricane Irma hit Georgia as a tropical storm in September continue to grow months after the winds and rain dissipated. The state Department of Insurance estimates that insurance claims from damage caused by the storm are now up to $670 million.
November 30, 2017 Catastrophe Property Georgia

Lack Of Qualified Adjusters, Contractors Impedes Hurricane Irma Recovery

Two months after Hurricane Irma, reporting damages to insurance companies turned out to be the easiest part of the recovery process for many homeowners. Putting price tags on repairs and getting workers out to fix the most severely damaged properties is requiring a lot of patience.
November 13, 2017 Catastrophe Property Florida

Florida’s Hurricane Irma Claims Reach $5.5 Billion

The price tag for damage from Hurricane Irma in Florida continues to grow. In the eight weeks since Irma rampaged through the state, the estimated insured losses from property owners now stands at $5.55 billion, according to an updated report Monday from the Florida Office of Insurance Regulation.
November 8, 2017 Catastrophe Property Florida

Underwriter Hiscox Revises Down Hurricane Claim Estimates

Lloyd’s of London underwriter Hiscox Ltd said it now estimates net claims for Hurricanes Harvey, Irma and Maria to total around $225 million, having previously estimated the same amount for Harvey and Irma alone.
November 7, 2017 Auto Catastrophe Property Florida Texas

More Wine Country Wildfire Victims File Suits Against PG&E

All it took Lars and Ulla Tandrup was a single glance at the blazing facade of their Quietwater Ridge home early Oct. 9 to realize they couldn’t reach their cars and would have to run for their lives.
November 2, 2017 Catastrophe Excess & Surplus Lines Liability Litigation Property California

Hurricane Season Revealed Lack Of Resiliency In The U.S.

Hurricanes Harvey, Irma and Maria laid bare fundamental inadequacies of the current flood insurance program in the U.S.
November 1, 2017 Catastrophe Property Florida Texas

California DOI: Wildfires Losses At $3.3B, Rising

Wildfires in California have caused insured losses of more than $3.3 billion, based on claims reported by 15 insurers, and the figure will rise, the California Department of Insurance said on Tuesday.
November 1, 2017 Auto Catastrophe Property California

Hurricanes Expose Vulnerability Of Businesses To Coastal Flood Risks

The preparedness of U.S. businesses is still wanting despite lessons learned from Hurricane Sandy and the high hurricane activity, devastation and losses so far this Atlantic hurricane season, suggests Allianz Global Corporate & Specialty (AGCS).
October 30, 2017 Catastrophe Property Louisiana New Jersey New York Texas

Insured Losses From Deadly California Wildfires Could Hit $3B

Insured property losses from wildfires that raged through Northern California wine country this month, killing at least 42 people and destroying thousands of businesses and homes, could total $2 billion to $3 billion, a risk-modeling firm said on Thursday.
October 27, 2017 Auto Catastrophe Property California

Recovery Efforts Continue 5 Years After Superstorm Sandy

On Oct. 29, 2012, Superstorm Sandy devastated coastal areas of New Jersey and New York, causing billions of dollars in damage, and killed dozens of people in the U.S. and Caribbean.
October 27, 2017 Catastrophe Property New Jersey New York
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