Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with US claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a …
Global insured losses from natural catastrophes in 2023 exceeded US$100 billion for the fourth consecutive year – an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers for 2023 included the total of …
Solar farms around the world are under threat due to costly hailstorm-related claims, according to renewable energy underwriter GCube Insurance. Hail was the costliest category for insurance claims by the renewables industry in the last five years, averaging around $58.4 …
The Hanover Insurance Group Inc. announced a preliminary estimate for second quarter catastrophe losses of approximately $262 million, before taxes, or 18.5 points of net earned premium. Second quarter catastrophe losses stemmed from 19 convective storms across multiple states, with …
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a report published by Swiss …
Extreme precipitation in mid-July resulted in the costliest flooding events on record for German and Chinese insurers, which face potential losses of $6.5 billion and $1.7 billion, respectively, according to Aon’s monthly catastrophe report. Germany is likely to see as …
U.S. insurers face a multi-billion-dollar payout from May’s convective storms, which spawned extensive hail, tornado, wind and flood damage across a series of separate events during the month, according to broker Aon plc in the latest edition of its monthly …
Insurers face multi-billion-dollar losses from U.S. hailstorms during April, according to Aon’s Global Catastrophe Recap report, which each month analyzes the impact of natural disaster events worldwide. The report said severe weather in the U.S. resulted in outbreaks of thunderstorms, …
Violent spring storms packing high winds and large hailstones in Texas and Oklahoma on April 28 likely caused $3.5 billion in damage, according to Accuweather.com. Additionally, the National Weather Service confirmed an EF-1 Tornado was included within a wide swath …
The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The figure is based on …
