flooding News

Update: Zurich Insurance Group Expects Q4 2015 Loss in General Insurance

Zurich Insurance Group AG fell to the lowest in more than three years after Switzerland’s biggest insurer put shareholders on notice that it expects a second straight quarterly loss in its general insurance business. Operating losses in the non-life unit will probably amount to …

Insured Losses from U.K. Storm Desmond Estimated at $1.1 Billion: PERILS

The initial estimate of the insured property market loss for flood damage caused by storm Desmond during Dec. 4-24, 2015 is £717 million ($1 billion), while windstorm losses from the event are estimated at £42 million ($59.3 million), according to …

Insured Nat Cat Losses 31% Below Average During 2015: Aon Benfield Report

Global natural disasters in 2015 caused a combined total insured loss of $35 billion – 31 percent below the 15-year average of $51 billion and the lowest annual insured loss total since 2009, said a report issued by Impact Forecasting, …

Tighter Construction Rules Would Help Minimize U.K.’s Flood Damage: Report

Tighter construction restrictions and incentives to build outside flood-prone areas would minimize damage to the U.K. economy from heavy rain and rising water levels, according to the Centre for Economic Performance. Thousands of families across northern England and Scotland have …

Flood Claims to Hit U.K. Insurers’ 2015 Earnings: A.M. Best

Flooding in the final month of 2015 will put pressure on the earnings of U.K. property insurers, according to a briefing published by A.M. Best. Initial estimates of combined insured losses from Storm Desmond, which hit the United Kingdom on …

El Niño Helped Reduce Natural Catastrophe Losses in 2015: Munich Re

Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on Monday. While the climate phenomenon known as “El …

State of Emergency Extended in Oklahoma

Gov. Mary Fallin is extending a state of emergency to all 77 Oklahoma counties after another winter storm brought ice to western and central parts of the state and heavy flooding in the east and northeast. Fallin issued an executive …

Storm Frank Batters North Britain; Total Storm Losses Could Top $4.5 Billion

Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an …

Update: U.K. Insurers Face Flood Claims up to $2.2B – with More Storms Ahead

Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …

New Flood Maps May Aid Big Development in Louisiana Parish

Revised flood maps could aid a developer’s proposal to build on one of Jefferson Parish’s last large undeveloped tracts. Lafayette-based Southern Lifestyle Development says it’s in talks to buy 2,000 acres in Avondale, near the TPC of Louisiana golf course …