Twice as many homes and businesses in and near New York City would be in flood zones under new maps that may force more property-owners to buy flood insurance, complicate post-Superstorm Sandy rebuilding for some and confront others with the …
Midwesterners accustomed to generous government aid after ice storms, floods and tornadoes may soon have to look somewhere else for help when disaster strikes. Even as the U.S. House on Jan. 15 passed a $50.7 billion aid package for victims …
The figures for natural catastrophse that occurred in 2012 are “dominated by weather extremes in the USA,” according to a report from Munich Re. The reinsurers said the U.S. “accounted for a higher proportion of global natural catastrophe losses than …
While 2012 wasn’t as tumultuous as 2011, it had its share of insurance shaking trends and events. Here in roughly chronological order are some of them: 1) The costs of the flooding in Thailand in 2011, wasn’t conclusively calculated until …
The Bermuda-based Argo Group International Holdings, Ltd. announced that it expects its 2012 fourth quarter results to include pre-tax catastrophe losses, related to Hurricane Sandy, of between $45 million and $55 million, net of reinsurance and reinstatement premiums. The bulletin …
According to Swiss Re’s sigma preliminary estimates, economic losses from natural catastrophes and man-made disasters will likely reach at least $140 billion in 2012, while total insured losses from natural catastrophes and manmade disasters will reach approximately $65 billion. Natural …
A major push is on to move New York City’s electrical infrastructure to higher ground or upper floors after Superstorm Sandy sent seawater pouring into low-lying substations and skyscraper basements and plunged half of Manhattan into darkness for four days. …
XL Group plc has announced that its preliminary net loss estimate related to Storm Sandy is around $350 million, pretax and net of reinsurance and reinstatement premiums. XL added that “approximately 60 percent of the Company’s estimated loss relates to …
Meadowbrook Insurance Group Inc., headquartered in Southfield, Mich., reported that so far it has approximately $5.1 million of known claims resulting from Hurricane Sandy. The claims reported from Hurricane Sandy are primarily limited to marine and properties in the Northeast. …
“Reduced for Quick Sale!” reads Mike Montalbano’s Craigslist ad for the three-bedroom home he needs to sell before he can relocate for a new job. The drywall is new, as are the appliances. The only problem? Location. Montalbano’s home is …
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