As Los Angeles residents digested the apocalyptic scene left by wildfires earlier this year, the stage was simultaneously being set for hedge funds to pursue market-beating returns fanned by climate change. The investment model in question is built around so-called …
A significant rise in claims from hurricanes rather than winter storms was to blame for a 36% increase in total fourth quarter 2024 claims. A new report from Verisk Analytics found catastrophe claims more than doubled year over year during …
Insured losses have surged in the past decade as climate change in Canada sparks wildfires, intense hailstorms and thunderstorms with severe flooding in major cities. Insured losses from natural disasters averaged C$2.2 billion ($1.63 billion) a year over the last …
Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustment delays, according to insurance …
Brit Ltd., the London-based specialty insurer and reinsurer, announced the creation and successful proof-of-concept launch of a proprietary machine-learning algorithm, designed to accelerate the identification of post-catastrophe property damage, based on the use of ultra-high-resolution imagery. This proof of concept …
As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged or evacuated because of natural catastrophes …
U.S homeowners insurers saw an increase in both the number of losses and the percentage of those losses that resulted from an extreme weather event during 2017. According to a LexisNexis Home Trends report, loss costs increased 19 percent from …
QBE reported a healthy profit hike during first half of 2017, despite heightened claims activity in its Emerging Markets’ division, which reported a combined ratio of 110.8 percent. This poor performance has led to the creation of two separate divisions …
Delaware Insurance Commissioner Trinidad Navarro has taken steps to streamline the licensing process for insurance adjusters who come to Delaware. The aim of this initiative is to immediately help consumers who have filed a claim due to an emergency or …
It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …
