insured losses News

RMIIA: Colorado Hailstorm Caused $213M in Insured Losses

Insurers say a hailstorm last month carried a hefty price tag. Rocky Mountain Insurance Information Association spokeswoman Carole Walker said Monday the Sept. 29 storm pounded thousands of vehicles and roofs, causing an estimated $213 million in insured losses. The …

RMS: ‘Big One’ in Northern California Could Cause $200B in Losses

Earthquake risk in the San Francisco Bay Area is on the rise while earthquake insurance penetration statewide has dropped significantly since the Loma Prieta earthquake that rocked the Bay Area 25 years ago, causing nearly $6 billion in economic losses, …

Insured Losses From the Napa Quake Pegged at $250M or Less

Insured losses from the Aug. 24 earthquake that struck Napa, Calif. will not exceed $250 million, according to a risk management firm. Widespread damage was expected from the 6.0 magnitude event, but there wasn’t much business interruption as most area …

Swiss Re sigma Report Estimates 1st Half 2014 Insured Losses at $21 Billion

According to preliminary estimates in a sigma report from Swiss Re, total economic losses from natural catastrophes and man-made disasters reached $44 billion in the first half of 2014. The global insurance industry covered $21 billion of these losses, down …

Napa Quake May Cost Up to $4 Billion as Wineries Shuttered

The earthquake that struck northern California yesterday will lead to economic losses of as much as $4 billion, fueled by damaged wineries and shuttered businesses that rely on tourists. Insurers will probably cover about $2.1 billion, according to an estimate …

Fitch: Hawaii Storms Shouldn’t Hurt Cat Bonds

Insured losses stemming from two Hawaii hurricanes won’t break the bank, in large part because both storms diminished in intensity or avoided a direct hit. Fitch Ratings concluded in a review of the situation that outstanding catastrophe bonds including the …

Typhoon Halong Inundates Japan: AIR Analysis

Catastrophe modeling firm AIR Worldwide’s report on former Typhoon Halong notes that it was downgraded to a tropical storm before making its first landfall in Japan on Shikoku Island at approximately 6 a.m. Japan Standard Time (JST), 15:00 UTC on …

Typhoons a Major Cause of Losses in July: Aon Benfield – Impact Forecasting

The latest edition of Aon Benfield’s Impact Forecasting’s Global Catastrophe Recap report concludes that Super Typhoon Rammasun, which made separate landfalls in the Philippines and China, caused widespread damage, killing at least 206 people and injuring hundreds more. In the …

Damage Estimate in Texas Hailstorm Pegged at $400M

The June 12 hail storm in Abilene, Texas, is expected to hit $400 million in insured losses to vehicles, homes and commercial property, the Insurance Council of Texas reports. It was the second catastrophic hailstorm this city in west Texas …

Powerful M6.9 Quake Strikes near Mexico-Guatemala Border: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, at about 6:30 am local time yesterday, July 7, a powerful M6.9 earthquake struck near the border of Mexico and Guatemala near the town of Puerto Madero, Mexico, at a depth of 37.3 …