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
Turkey Fryer Disaster: Firefighters Battle House Fire On Thanksgiving
A home caught fire Thanksgiving Day while a family was cooking a turkey inside, according to the Eastex Fire Department. When firefighters arrived at the scene, the home was engulfed in flames.
November 27, 2017
Property
Texas
Johnson & Johnson Hit With $247M Verdict In Hip Implant Trial
A federal jury in Dallas on Thursday ordered Johnson & Johnson and its DePuy Orthopaedics unit to pay $247 million to six patients who said they were injured by defective Pinnacle hip implants.
November 17, 2017
Liability
Litigation
Texas
NICB Releases Annual Holiday Vehicle Theft Report
New data released today by the National Insurance Crime Bureau (NICB) shows a total of 22,705 vehicles were reported stolen on the 11 holidays in 2016 covered in this report. NICB theft data is pulled from the National Crime Information Center’s (NCIC) stolen vehicle file, which showed a total of 803,719 vehicle thefts for the year.
November 16, 2017
Auto
California
Florida
Georgia
Texas
Washington
Partiers Collapse Third Floor In Texas College Apartments
A party in Denton turned into terror and chaos when the third floor at a student housing complex collapsed. Most of the people affected by the collapse at the Ridge Apartments are okay, but now, dozens of University of North Texas students don’t have a home.
November 13, 2017
Excess & Surplus Lines
Texas
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
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
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
Lloyd’s Revises Harvey, Irma And Maria Claims Estimates To $4.9B
Lloyd’s has revised its net claims estimates for Hurricanes Harvey and Irma to a combined US$3.9 billion, plus a preliminary claims estimate for Hurricane Maria of US$0.9 billion.
October 24, 2017
Auto
Catastrophe
Property
Florida
Georgia
Texas
One Dead In Oil Barge Fire Off Port Aransas, Texas
The U.S. Coast Guard reported Friday that the oil barge B255 caught fire early on Friday at a position about three miles off the harbor entrance at Port Aransas, Texas. The barge was under tow by the ATB tug Buster Bouchard at the time of the incident.
October 23, 2017
Marine
Workers' Compensation
Texas
NICB: Hurricanes Leave Record Numbers Of Vehicles Damaged
Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. That is just one of several insurance industry salvage locations where more than 422,000 insured vehicles damaged by Harvey have been taken for processing.
October 19, 2017
Auto
Salvage
Florida
Texas
Lloyd’s Pushing Rapid Claims Processing Response Following Hurricanes
Hurricanes Harvey, Irma and Maria left catastrophe and devastation behind, and Lloyd’s insurance claims are being rapidly processed, says the market. The company says it is responding quickly and has even made some advance payments.
October 18, 2017
Catastrophe
Property
Risk Management
Florida
Texas
CAT Crews Busy Closing Out Hurricane Claims
The relentless hurricane season is keeping Bloomington-based insurers busy. With seven weeks to go, the 2017 hurricane season is already the third most active on record.
October 18, 2017
Auto
Catastrophe
Property
Alabama
Florida
Georgia
Texas
Cost Of Hurricanes To Insurance Industry Will Break $100B
Though it’s too early to know the insured damage total of Hurricane Nate, the cost of hurricanes to insurance industry coverage providers in the United States will already reach $100 billion, says JPMorgan. This prediction aligns with other industry players, such as Fitch Ratings.
October 16, 2017
Catastrophe
Property
Florida
Texas
