losses News

California Targeted by Cyber-gangs: Report

International criminal enterprises follow the money, and a report  says they are increasingly focusing on California because of its wealth and innovation. Aside from long-time trafficking in drugs, guns and people, the report by California Attorney General Kamala Harris says …

Insurer Sues Over 2011 Hawaii Wind Farm Fire Losses

The insurance company that paid $2.4 million to cover losses from a wind farm fire in Hawaii is suing manufacturers that built parts of its battery system. The Honolulu Star-Advertiser reported Certain Underwriters at Lloyd’s London paid to cover losses …

Insurance Not Likely To Cover Damage in Montana Fire

Insurance policies belonging to the man who started the 2012 Corral fire in Montana likely won’t be enough to cover the damage to surrounding properties. Attorneys told the Independent Record that Robert Fitte has about $1.3 million in coverage to …

Webinar: Lessons to be Learned from Colorado Flood, D.C. Shootings

Drawing off the massive flooding in Colorado and Naval shipyard shootings in Washington, D.C., the second in a series of webinars being put on for National Preparedness Month focused on unforeseen crises as examples of the need for organizations to …

Damage From Large Wisconsin Wildfire Estimated At $1M

A fire that damaged a 10-mile swath of forest land in northwestern Wisconsin this spring caused at least $1 million in damage, according to the timber company that owns most of the affected land. The massive blaze in Douglas County …

Estimated $13 Million Loss In Washington Apartment Fire

The three-alarm fire in Pullman, Wash. destroyed four apartment buildings and a club house that would have been worth about $13 million when completed this summer. The Moscow-Pullman Daily News reported the fire early Sunday destroyed 88 units at the …

Oklahoma Insurance Claims from May Tornadoes Top 75K

Insurance claims filed in response to a major tornado outbreak in May have jumped to 75,758 with insurance payments reaching $687,945,276, the Oklahoma Insurance Department announced. “The victims of these devastating tornadoes will be dealing with the aftermath for quite …

Farmers Insurance Pulling Out of Louisiana

Farmers Insurance Exchange, which has around 23,000 homeowner and 7,000 auto policies in Louisiana, is dropping those lines of business in the state, but a company spokesman said Friday it will retain more than 100,0000 policies in Louisiana under three …

AIR Worldwide’s Analysis of Typhoon Bopha’s Impact on the Philippines

AIR Worldwide’s analysis of Typhoon Botha’s [also named ‘Pablo,’ locally] impact on the Philippines indicates that as “insurance penetration in this area is around 10 percent to 20 percent; insured losses are not expected to be high as a result …

S&P Report: Reinsurers Discuss Industry Lessons Learned From Hurricane Sandy

A recent report, “Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy,” published Nov. 29, 2012, on RatingsDirect, Standard & Poor’s Ratings Services, notes that “reinsurers had three very good quarters until Superstorm Sandy hit the U.S. East Coast on …