KCC Expects Insured Losses of $36B From Hurricane Milton
Unlike Hurricane Helene, Milton’s damage was caused mostly by wind.
Industry Experts Predict Impacts of a $25B+ Milton Hit
A wide cone of uncertainty surrounded insurance experts’ pre-landfall predictions.
- Honda Recalling 2 Million Vehicles Over Steering Issue
- Milton’s 123,000 Claims So Far to Mean New Pressure on Reinsurance, Rate Hikes
- Progressive More Than Doubles Q3 Net Income Despite Helene Losses
- New York Mets Hit With Class Action Alleging Biometric Privacy Violations
- KCC Expects Private Insured Losses of $36B From Hurricane Milton
- Combined Losses From Milton and Helene to Be $35B-$55B: Moody’s RMS
- Vermont Approves Union Mutual Affiliation With N&D Group
- Delaware Workers’ Compensation Rates to Drop 8.4% and 9.2%
- New Jersey Transit Light Rail Crash Kills Operator; 23 Passengers Hurt
- Blaze That Killed Two Baltimore Firefighters in 2023 Ruled Accidental
- Ex-New York Fire Chief Pleads Guilty to Accepting Bribes to Speed Inspections
- New York Mets Hit With Class Action Alleging Biometric Privacy Violations
- People Moves: Galla Joins Alliant as EVP, Alliant M&A; EPIC Expands Leadership in Northern California
- Should California’s Minimum Wage Be $18? Voters Will Soon Decide
- Viewpoint: Landmark Workers’ Comp Subrogation Decision in Nevada
- Anaheim Marriott Cited $12.5M for Violating California Worker Recall Law
- Former California Agent Pleads Guilty to 90 Counts of Insurance Fraud
- People Moves: Coleman to Succeed Mudge as WCIRB President and CEO
- If Flood Insurance Lapsed, FEMA Extends Grace Period to Renew Policies
- Milton’s 123,000 Claims So Far to Mean New Pressure on Reinsurance, Rate Hikes
- Volunteers Bring Solar Power to Hurricane Helene Disaster Zone
- Investigation Underway After Small Plane Crashes in Savannah Neighborhood
- Floridians Cleaning up From Milton Hampered by Widespread Fuel Shortage
- Tenn. Authorities Continue to Investigate Container Suspected of Holding Dynamite
- Two Killed After Leak at Texas Oil Refinery Worked for Maintenance Subcontractor
- Company Recalls Nearly 10 Million Pounds of Meat Made at Oklahoma Plant
- Louisiana Contractor Charged for Allegedly Damaging Homeowners’ Roof
- Inszone Acquires San Antonio Insurance Services
- West Texas Town Endures Another Well Blowout, Putting Residents at Risk
- Harris County Officials Say Texas Law Limits Settlements Against Polluters
- AM Best Revises Outlook to Positive for Kansas’ Upland Mutual
- Nebraska Grain Cooperative Faces $500K Fine for Exposing Workers to Hazards
- East Palestine Residents Should Receive Payments During Class Action Appeal
- People Moves: Alliant Adds Moseley to Midwest Office
- Wisconsin Recycling Company Fined $202K for Exposing Workers to Lead, Cadmium
- Two Iowa Men Charged With Insurance Fraud
National News
- KCC Expects Private Insured Losses of $36B From Hurricane Milton
- Progressive More Than Doubles Q3 Net Income Despite Helene Losses
- Combined Losses From Milton and Helene to Be $35B-$55B: Moody’s RMS
- Honda Recalling 2 Million Vehicles Over Steering Issue
- J&J’s Court-Shopping Win Highlights Irresistible Bankruptcy Tool
- Markets/Coverages: QBE to Launch US Inland Marine With 3 Hires From AIG; Next Now Offers Standalone Pro Liability for Consultants
- GSK Sues Moderna for Patent Infringement Over COVID, RSV Vaccines
East News
- Vermont Approves Union Mutual Affiliation With N&D Group
- Delaware Workers’ Compensation Rates to Drop 8.4% and 9.2%
- New Jersey Transit Light Rail Crash Kills Operator; 23 Passengers Hurt
- Blaze That Killed Two Baltimore Firefighters in 2023 Ruled Accidental
- Ex-New York Fire Chief Pleads Guilty to Accepting Bribes to Speed Inspections
- New York Mets Hit With Class Action Alleging Biometric Privacy Violations
Midwest News
- AM Best Revises Outlook to Positive for Kansas’ Upland Mutual
- Nebraska Grain Cooperative Faces $500K Fine for Exposing Workers to Hazards
- East Palestine Residents Should Receive Payments During Class Action Appeal
- People Moves: Alliant Adds Moseley to Midwest Office
- Wisconsin Recycling Company Fined $202K for Exposing Workers to Lead, Cadmium
- Two Iowa Men Charged With Insurance Fraud
State Farm Posts Worst HO Loss Ratio Since 2011
State Farm was the only one of 10 major players with a worse Q2 loss ratio than 2023.
Texas / South Central News
- Two Killed After Leak at Texas Oil Refinery Worked for Maintenance Subcontractor
- Company Recalls Nearly 10 Million Pounds of Meat Made at Oklahoma Plant
- Louisiana Contractor Charged for Allegedly Damaging Homeowners’ Roof
- Inszone Acquires San Antonio Insurance Services
- West Texas Town Endures Another Well Blowout, Putting Residents at Risk
- Harris County Officials Say Texas Law Limits Settlements Against Polluters
Southeast News
- If Flood Insurance Lapsed, FEMA Extends Grace Period to Renew Policies
- Milton’s 123,000 Claims So Far to Mean New Pressure on Reinsurance, Rate Hikes
- Volunteers Bring Solar Power to Hurricane Helene Disaster Zone
- Investigation Underway After Small Plane Crashes in Savannah Neighborhood
- Floridians Cleaning up From Milton Hampered by Widespread Fuel Shortage
- Tenn. Authorities Continue to Investigate Container Suspected of Holding Dynamite
Modeling Delivers Insights on More Civil Unrest
Insured losses from civil unrest can reach levels equal to some natural catastrophes.
West News
- People Moves: Galla Joins Alliant as EVP, Alliant M&A; EPIC Expands Leadership in Northern California
- Should California’s Minimum Wage Be $18? Voters Will Soon Decide
- Viewpoint: Landmark Workers’ Comp Subrogation Decision in Nevada
- Anaheim Marriott Cited $12.5M for Violating California Worker Recall Law
- Former California Agent Pleads Guilty to 90 Counts of Insurance Fraud
- People Moves: Coleman to Succeed Mudge as WCIRB President and CEO
International & Reinsurance News
- Insurance Claims Confirm Many Israeli Structures Damaged in Iran Attack
- Russian Missile Hits Fourth Cargo Ship in Ukraine This Month
- Singapore Blocks $1.7 Billion Allianz-Income Insurance Deal
- UK Urged to Prepare for Floods After Unusually Wet September
- Arch Capital Group Names Papadopoulo CEO as Grandisson Retires
- Typhoon-Hit Southeast Asia to See a Rainy End to 2024
- La Niña Is Becoming Less Likely, Australia’s Weather Bureau Says
- Specialist Risk Group Launches APAC Unit in Singapore, Buys Local Broker
- Ardonagh Completes A$2.3B Acquisition of Australia’s PSC Insurance Group
Insurance Journal Blogs and Columns
- Overcoming the Challenges of Personal Items Estimation
- Enhancing Workers’ Compensation and GL Underwriting with Underwriter Link
- Are You Thinking About Appointment Compliance All Wrong?
- It’s Pig Iron Under Water!
- Transforming Cyber and Tech E&O Insurance with Our RQB Platform
- 5 Pitfalls to Effective Insurance Compliance Vendor RFPs and How to Address Them
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Insurance Top Gainers/Losers
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Lemonade, Inc. | LMND | $18.71 | +6.67% |
| Heritage Insurance Holdings, Inc. | HRTG | $10.97 | +4.78% |
| American Coastal Insurance Corporation | ACIC | $10.61 | +3.01% |
| Universal Insurance Holdings, Inc. | UVE | $19.67 | +2.50% |
| Horace Mann Educators Corporation | HMN | $36.02 | +1.72% |
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Ryan Specialty Holdings, Inc. | RYAN | $71.25 | -1.70% |
| American Financial Group, Inc. | AFG | $134.95 | -1.65% |
| Erie Indemnity Company | ERIE | $525.65 | -1.43% |
| Kinsale Capital Group, Inc. | KNSL | $465.77 | -1.38% |
| American International Group, Inc. | AIG | $76.98 | -0.82% |
