insured losses News

Carr Fire Losses May Reach $1.5B in Likely Another Destructive Season for California

California’s Carr wildfire has the potential to yield losses of up to $1.5 billion, according to a Moody’s report issued on Thursday. The fire has ravaged parts of Shasta County in or near Redding in the Northern part of the …

Fury of Hailstorms Battered Colorado, Insured Losses ‘Skyrocketing’

The hailstorms that hit Northern Colorado and the Denver-metro just over a week ago carried a $276.4 million insurance price tag. The storms followed a Southern Colorado hailstorm a week earlier that caused an estimated $169 million in insured losses. …

Colorado’s Hail Storm Damage Estimate for Last Year at $2.3B

The massive hail storm that pummeled Colorado’s northern Front Range a year ago generated nearly $900 million more in damage than first estimated, as claims from homeowners doubled in the months that followed. The Denver Post reported this week that …

California Commissioner Issues Report on Fire Insurance Availability Issues

California Insurance Commissioner Dave Jones today released a report on the growing problem of homeowners fire insurance availability and affordability in many areas throughout the state. The report recommends changes in law that Jones believes the legislature should enact to …

California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says

No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds to substantial catastrophe losses …

Modeler: Insured Losses for California Wildfires Could Reach $10.5B

Loss estimates for the October California wildfire siege could reach up to $10.5 billion, according to catastrophe modeling firm AIR Worldwide. Boston, Mass.-based AIR on Thursday updated its loss estimates for the recent wildfires after analyzing findings from its damage …

Insured Losses from California Wildfires Now at $3.3 Billion

The largest California insurers have so far reported more than $3.3 billion in insured losses from the October wildfire siege, now considered the most destructive fires in state history. Insurance Commissioner Dave Jones on Tuesday updated insured loss claims data …

Northern California Wildfires: Insurance Industry Ready to Assist With ‘Massive’ Recovery

Rebuilding the Northern California areas devastated by wildfire will be a long-term effort, and insurers say they will be there to help their affected policyholders get back on their feet. Tens of thousands of evacuees began making their way home …

Early Data Shows Insured Losses from California Wildfires Already at $1B and Growing

Insurance Commissioner Dave Jones today released preliminary data provided by eight California insurers processing claims for tens of thousands of policyholders that shows $1.045 billion in losses to commercial and residential structures, personal and commercial vehicles and agricultural equipment. The …

Texas’ Costliest Year for Hailstorms Began on March 16, 2016