insured losses News

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 …

Nearly $110M Damages From Colorado Hail, Wind, Flooding in May

Hail, wind and flooding in May caused an estimated $109.3 million in insured losses resulting from 28,442 auto and homeowners insurance claims filed, an insurance group reported on Monday. The damage estimates include 18,538 car insurance claims adding up to …

California’s Next Mega Fire, This Could be The Year

When Thomas Jeffery visits states like California, he likes to take some time out to drive around and take a hard look at the conditions and the landscape. As a scientist, Jeffery feels this helps put first-person observations into his …

Estimate of Insured Losses in North Texas Storms Reaches $300M

The storms that rolled across the Denton area in north Texas in early April are estimated to have caused $300 million in insured losses. The area was hit by softball size hail and three tornadoes. The thunderstorms erupted April 3 …