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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
