Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton. Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information “in support of a potential capital markets …
After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed. In fact, holders of the bonds may be looking at returns of as much as 12%, according to Zurich-based asset …
BRADENTON BEACH, Fla. (AP) — The start of “snowbird” season in Florida is only weeks away, but many Florida Gulf Coast beaches, regularly voted some of the best in the United States, are closed to the public because of the …
Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida’s crops and agricultural infrastructure, according to a preliminary assessment released by the state’s Department of Agriculture and Consumer Services on Thursday. The majority of Florida’s citrus …
Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had reported more than 221,582 …
Florida’s insurance commissioner this week issued emergency orders, extending some policyholder cancellation protections in the wake of Hurricanes Helene and Milton. The orders, seen here and here, are in line with similar actions taken after hurricanes. The orders: Extend grace …
Moody’s RMS has pegged private insured losses from Hurricane Milton to between $22 billion and $36 billion, with a best guess of $26 billion. The Newark, California-based catastrophe modeler also narrowed its range for insured losses from hurricanes Milton and …
Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report. The total economic loss from natural perils in the first three quarters of …
Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind. Verisk’s Extreme Event Solutions group said the range includes privately insured losses to onshore property …
Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co. The estimate includes losses from wind, storms surge, and inland flooding to personal, commercial and industrial properties and vehicles, as well as …
