Insurance Journal » property damage

Catlin Introduces ‘UK Asymmetric’ Terrorism Insurance and Crisis Response Product

Wed, 23 Jan 2013 17:34:39 +0000

London-based underwriting subsidiaries of the Bermuda-based Catlin Group Limited have introduced a new terrorism insurance product that includes unique crisis response services as well as coverage for chemical, biological, radiological and nuclear (CBRN) losses. The announcement explained that the “UK …

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Ohio Joins States Tracking Arsonists on Registries

Tue, 22 Jan 2013 02:54:39 +0000

Ohio is joining the few states that require convicted arsonists to register with authorities, hoping it will help solve more cases, deter repeat offenses and prevent deaths and property damage. The new law will require people convicted of arson-related offenses …

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Missouri Cops Investigating Smash-and-Grab Crimes

Fri, 18 Jan 2013 17:32:51 +0000

Police in several St. Louis, Mo.- area towns are investigating a string of smash-and-grab crimes with a twist: In many cases, nothing is taken. In six instances over the past few weeks, suspects have busted through the front doors of …

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IBC Estimates Alberta Wind, Thunderstorm Insured Losses over $100 Million*

Wed, 15 Aug 2012 10:34:41 +0000

The Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by the recent severe thunderstorm event that hit the Edmonton area in July amounts to more than $100 million. The IBC noted that the estimate, “reported by …

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Officials Say Western New York Tornadoes Cost $760K

Tue, 22 Nov 2011 16:11:34 +0000

The Chautauqua County Office of Emergency Services says tornadoes that touched down in three western New York communities a week ago caused $760,300 in property damage. The tornadoes touched down in the village of Fredonia and the towns of Pomfret …

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Allianz Asia CEO Says Thai Floods Could be Costliest Disaster in a Decade

Fri, 18 Nov 2011 11:44:31 +0000

Insured losses from Thai floods could be in the double-digit billions of dollars and the disaster will lead to a re-assessment of weather risks to industries in Asia, a senior official from global insurer Allianz said. Calculating the true cost …

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AIR Updates Analysis of Thai ‘Historic’ Flooding; BI Will Impact Insurers

Thu, 10 Nov 2011 11:45:31 +0000

According to catastrophe modeling firm AIR Worldwide, “historic flooding in Thailand continues to damage residential properties and has interrupted operations for numerous businesses. At the start of this year’s monsoon season in late July, Tropical Storm Nock-Ten brought high precipitation …

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Irene Causes Extensive Property Damage on Smaller Islands in the Bahamas

Fri, 26 Aug 2011 10:14:00 +0000

Large and powerful Hurricane Irene roared across the Bahamas archipelago on Wednesday, knocking down trees and destroying homes on a path that officials said posed the greatest threat to the country’s smaller, less-populated islands. There were no immediate reports of …

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New York City Police Pay More in Liability Claims Than Hospitals

Thu, 16 Jun 2011 12:27:19 +0000

New York City paid nearly $521 million in personal injury and property damage claims in 2010 — marking the first time in 30 years the police department’s liabilities topped those of public hospitals, according to a city comptroller’s report issued …

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