Combined losses from the two New South Wales catastrophes of bushfires and hailstorms, have passed A$70 million (US$53.7 million), according to the Insurance Council of Australia (ICA). As of Feb. 20, insured losses for the NSW bushfires had reached A$28.5 …
Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income declined to 1.1 billion euros ($1.2 billion) from …
The storms that hit Saskatchewan, Manitoba and Ontario in Canada on June 24 and 25 caused more than C$34 million ($25.9 million) in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ).* Wind, flash floods and hail …
Texas had the most catastrophe losses in the United States during the first half of 2015, according to a new report on North American cat losses during the first six months of the year. Seventeen second-quarter catastrophe events in North …
A string of recent major natural catastrophe events in Australia is expected to materially affect non-life insurers’ upcoming earnings for the fiscal year that ends June 30, 2015, according to an A.M. Bestbriefing. However, the Best’s Briefing, titled, “Recent Natural …
The Texas Senate on April 30 passed a bill aimed at stemming the onslaught of property claim litigation that has been occurring with increasing frequency in the state following natural catastrophes. Advocates of Senate Bill 1628 say it will help …
The Oklahoma tornadoes of May 2013 not only caused significant loss of life but also contributed to its designation last year as the costliest state for natural disaster related insurance payouts, according to the Insurance Information Institute (I.I.I.). “Oklahoma’s policyholders …
An industry group says Texas homeowners are paying the highest insurance premiums in the country. The report was released Tuesday by the National Association of Insurance Commissioners. The Dallas Morning News reported the study is based on premiums collected in …
The residents of Fort Worth, Texas, and its suburbs in Tarrant County share the dubious honor of being the area most pounded by hailstorms than in any other part of the state, according to data compiled from the National Oceanic …
Hurricanes may garner more attention but in Texas, hailstorms, not hurricanes, are the most damaging weather events that Texans face annually, according to the state’s insurance regulators. And, unlike hurricanes, hailstorms occur in every part of the state. Last year …
