Underwriters Loss From Hurricanes Harvey And Irma Greater Than Expected
Lloyds of London underwriter Hiscox Ltd estimated on Monday that it would face net claims totalling about $225M from Harvey and Irma, as insurers and reinsurers count the cost of the hurricanes.
October 2, 2017
Catastrophe
Property
Florida
Texas
Harveys Coverage Issues: Claims And Litigation
“Harvey raises many coverage issues ranging from occurrence limits to application of sub-limits and deductibles, to business interruption claims where there is no physical damage to insured property."
September 28, 2017
Catastrophe
Litigation
Property
Texas
Catastrophes And Do Little Syndrome
Cliff Treese of Association Data brought some statistics to my attention involving earthquake (EQ) insurance in California. Going back as far as 2001, the percentage of properties without EQ insurance were: Homeowners 84-88%, Dwelling 95-97%, and Commercial 89-93%.
September 26, 2017
Catastrophe
Property
California
Puerto Ricos Losses From Hurricane Maria May Top $72 Billion
As Puerto Rico continues to plead for more aid from federal agencies, catastrophe-modeling firm AIR Worldwide says the storm could result in up to $72 billion in losses on the island.
September 26, 2017
Auto
Catastrophe
Excess & Surplus Lines
Property
Drones Are More Helpful Than Ever In Hurricane-Ravaged Texas And Florida
Unmanned aircraft — small and large — swooped in during the aftermath of Hurricanes Irma and Harvey to get a glimpse of the devastation. Thats why insurance companies have been using drone technology more than ever before to quickly and safely assess damage from the storm.
September 25, 2017
Catastrophe
Property
Risk Management
Technology
Florida
Texas
FEMA: Flood Insurance Claims For Irma Near 17,000 In Florida
If your home or business was damaged by storm surge or flooding during Hurricane Irma, National Flood Insurance Program director Roy Wright wants you to know how to get as much money as you can as quickly as possible.
September 25, 2017
Catastrophe
Property
Florida
Allstate Estimates $593M In Losses From Harvey
Allstate expects insurance losses of about $593 million in August after Hurricane Harvey left a path of destruction along the Gulf Coast. The initial accounting Thursday follows warnings from other insurers that are tallying the damages from a hurricane season that is nowhere near being over.
September 22, 2017
Auto
Catastrophe
Property
Louisiana
Texas
Irma Insurance Claims Already Near $2 Billion
With 335,000 insurance claims representing $1.9 billion in property losses, Hurricane Irma already has exceeded the claims and losses from the two hurricanes that pummeled Florida last year, the state Office of Insurance Regulation reported Monday.
September 20, 2017
Auto
Catastrophe
Property
Florida
Georgia
North Carolina
South Carolina
Hurricane Maria Hammers Puerto Rico With Force Not Seen In Modern History
Hurricane Maria roared ashore on Puerto Rico on Wednesday as the strongest storm to strike the island in more than 80 years while panicked residents fled to high ground and huddled in shelters hoping to withstand powerhouse winds that have already left death and devastation across the Caribbean.
September 20, 2017
Catastrophe
Property
More Than 200 Dead After 7.1 Magnitude Earthquake Strikes Mexico
At least 217 people are dead after a 7.1 magnitude earthquake rocked central Mexico Tuesday afternoon, hitting on the 32nd anniversary of the biggest earthquake to ever strike the countrys capital.
September 20, 2017
Auto
Catastrophe
Property
Hurricane Maria: What We Know, Where Its Going Next
Hurricane Maria pounded the small island of Dominica with catastrophic winds on Monday night. The storm is charging into the eastern Caribbean threatening islands wrecked by Irma. Marias top sustained winds were 160 mph on Tuesday morning.
September 19, 2017
Catastrophe
Shortage Of Independent Adjusters Leads To Highest Fees Ever Paid
Independent adjusters in Florida might have their work cut out for them — with numerous Hurricane Irma-related claims being filed — but they look set to be compensated for their hard work with the regions increased pay rates.
September 18, 2017
Catastrophe
Property
Risk Management
Florida
Texas
A $150 Billion Misfire: How Disaster Models Got Irma Wrong
Twenty miles may have made a $150 billion difference. Estimates for the damage Hurricane Irma would inflict on Florida kept mounting as it made its devastating sweep across the Caribbean. It was poised to be the costliest U.S. storm on record.
September 15, 2017
Catastrophe
Property
Florida
Harvey, Irma Damage Reaches Nearly $300 Billion
Preliminary data on the total cost of damage caused by Hurricanes Harvey and Irma is finally coming in, and analysts are projecting hundreds of billions in losses thanks to the damage caused by both weather events.
September 15, 2017
Auto
Catastrophe
Excess & Surplus Lines
Marine
Property
Florida
Georgia
South Carolina
Texas
Large Corporate Claims From Hurricane Irma May Take Years To Settle
Insurance claims are already pouring in from policyholders with properties damaged by Hurricane Irma. The United States mainland sustained about $18 billion of insured loss, with the majority of damage seen in Florida, followed by Georgia, South Carolina, and Alabama, according to catastrophe modelling firm Karen Clark & Co.
September 14, 2017
Catastrophe
Excess & Surplus Lines
Litigation
Property
Alabama
Florida
Georgia
South Carolina



