Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap January 22, 2019 The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of...
PG&E Says It Won’t Commit to Paying Settlements With 2015 California Fire Victims January 18, 2019 By Joel Rosenblatt PG&E Corp. is so cash-starved that it won’t commit to paying settlements reached with people who lost their homes in...
Argo Estimates Losses from Q4 Natural Catastrophes, Other Claims to Hit $44M January 18, 2019 Argo Group International Holdings, Ltd., the Bermuda-based re/insurer, announced a preliminary pre-tax catastrophe loss estimate of $32 million for the...
Failure to Mitigate Climate Change, Cyber Attacks Are Top Global Threats: WEF January 17, 2019 By Jill Ward The failure to tackle climate change and extreme weather events are the most threatening global risks this year, according to...
Multiple Smaller Natural Disasters in 2018 Created ‘Unusual’ Insured Loss Picture: Willis January 16, 2019 Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses...
PG&E Restructuring Highlights California’s Inverse Condemnation Rule January 15, 2019 By Jessica DiNapoli, Mike Spector and Scott DiSavino PG&E Corp.’s chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to...
Swiss Re Estimates Its Q4 Natural Catastrophe Claims to Hit US$1.0B January 15, 2019 Swiss Re estimates it will pay claims of approximately $1.0 billion for natural catastrophes booked in the fourth quarter of...
‘Goat Fund Me’ Campaign Launched by California Town to Prevent Wildfires January 14, 2019 The threat of catastrophic wildfires has driven a California town to launch a “Goat Fund Me” campaign to bring herds...
PG&E Bankruptcy Looms With $30B in Potential Liabilities from California Wildfires; CEO to Exit January 14, 2019 By Mark Chediak and Kiel Porter PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities...
Trump, California in Battle Over Wildfire Relief Funds January 11, 2019 President Donald Trump threatened this week to withhold money to help California cope with wildfires after Gov. Gavin Newsom asked...