The majority of gross losses from recent devastating flooding in Australia likely will be borne by reinsurers with limited impact on primary insurers’ balance sheets, according to an AM Best report. The flooding brought widespread damage to regions of New …
Industry insured losses for Hurricane Maria in the Caribbean will be between US$40 billion and US$85 billion, according to catastrophe modeling firm AIR Worldwide. Puerto Rico alone accounts for more than 85 percent of the loss, said Boston-based AIR, which …
Hurricane Katrina, which devastated New Orleans 10 years ago, is responsible for a number of changes in the commercial property insurance market. According to Rick Miller, U.S. property practice leader at Aon Risk Solutions, Katrina’s impact can be seen in …
Although demand surge was an issue for the property/casualty industry following a trio of hurricanes in 2005, for Superstorm Sandy the demand-surge impact is minimal so far, an expert said recently. There has only been a price impact of 2 …
