hurricane maria claims News

Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield

Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …

Swiss Re Says Global Insured Catastrophe Losses Will Hit $136B in 2017

Swiss Re AG estimates that global insured losses from catastrophes in 2017 will hit $136 billion, the third-highest on record for the sector, with the United States hardest hit, it said on Wednesday. Total economic losses from natural and man-made …

Lloyd’s Pays Claims of $1.7B for Hurricanes Harvey, Irma & Maria – So Far

The Lloyd’s market has paid claims worth US$1.7 billion, to date, in response to Hurricanes Harvey, Irma and Maria. Earlier this year Lloyd’s estimated a total commitment of US$4.8 billion for the three storms. Lloyd’s brokers are receiving money from …

Reinsurance Sector’s Share of Hurricane, Quake Losses Is $20B-$25B: A.M. Best

Cumulative net catastrophe losses for reinsurance companies from Hurricanes Harvey, Irma and Maria, along with the Mexico earthquakes, are between $20 billion-$25 billion out of an overall industry loss of $90 billion, according to calculations issued by A.M. Best. “We …

Munich Re Reports Q3 Loss of $1.6B; Tallies Industry Hurricane Losses at $100B

Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re said on Thursday. Damages from storms Harvey, Irma and Maria of that magnitude would exceed by far …

Lancashire Reports Q3 Loss of $136.4M on High Natural Catastrophe Claims

Lancashire Holdings Ltd reported a third-quarter pretax loss after what looks set to be the costliest quarter ever for insurers and reinsurers due to natural catastrophes, but said it was seeing some evidence of an increase in pricing. The property …

Hurricane Cars Declared ‘Total Losses’ by Adjusters Are Now Back on Roads

The ink on the “total loss” insurance paperwork, like the 2007 Range Rover itself, was still wet when Morgan Moran began trying to buy his vehicle back after Hurricane Matthew last year. The insurance adjuster had declared the vehicle ruined …

Hurricane Claim Insurance Checks Drive New Car Sales

As Hurricane Harvey poured on Houston, Frank Rodriguez feared for his 2014 GMC Sierra. Once he saw the pickup’s soaking-wet interior and center console full of water, he knew it was a lost cause. He just hoped his insurance company …