January 12, 2023
For hurricanes with erratic paths that prove difficult to predict, property insurers could soon find it trickier to justify some claims denials for boats, yachts and other movable marine structures, thanks to a recent appeals court decision. The 11th U.S. …
January 17, 2020
The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands. The government will probably borrow about $500 million in coming months as it …
January 8, 2020
Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe update. The reinsurer said the protection gap (the difference …
November 30, 2019
The Atlantic Ocean has spawned lots of storms this season while doing much less damage than prior years. But warming waters promise trouble ahead. The 2019 Atlantic hurricane season, which ends Nov. 30, has been the eighth most-active in named …
November 27, 2019
The 2019 Atlantic hurricane season, which ends on November 30, was marked by tropical activity that churned busily from mid-August through October, according to the National Oceanic and Atmospheric Administration (NOAA). The season produced 18 named storms, including six hurricanes …
November 19, 2019
Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released last week. The report by the Inter-American Development Bank also said there were 67 …
November 18, 2019
Another $180 million in state funds are going to help with disaster recovery following hurricanes Matthew, Florence and Dorian and to prepare for North Carolina’s next storm. The state House and Senate voted on Thursday for a negotiated package that …
October 16, 2019
RenaissanceRe Holdings Ltd. announced it estimates losses from third quarter 2019 catastrophe events will have an estimated net negative impact of approximately $155 million on its third quarter 2019 results. The estimated losses include Typhoon Faxai and Hurricane Dorian, which …
October 16, 2019
Everest Re Group Ltd. announced a preliminary pre-tax catastrophe loss estimate for the third quarter of 2019 in the amount of $280 million. This amount is net of reinsurance recoveries and reinstatement premiums, said Everest Re, noting that net of …
October 14, 2019
Hurricane Dorian made landfalls in the Bahamas, North Carolina, and Canada in early September, bringing total economic and insured losses in the billions, according to Aon’s monthly Global Catastrophe Recap report. Total economic and insured losses in the Bahamas alone …