Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global insured losses, according to …
The deadly firestorm in Hawaii and Hurricane Idalia’s watery storm surge helped push the United States to a record for the number of weather disasters that cost $1 billion or more. And there’s still four months to go on what’s …
Loss trends for severe convective storms (SCS) have increased over the past 15 years and even more during the past five years, according to Dan Dick, global head of Catastrophe Management at Aon. “What’s interesting about these trends is when …
Allstate Corp. said estimated catastrophe losses for the month of July were $313 million or $247 million, after-tax. July has 18 events, highlighted by widespread wind and hail storms, with estimated losses of about $349 million. These losses for July …
Natural disasters during the first half of 2023 cost insurers an estimated US$43 billion with an overall economic price tag of $110 billion, according to Munich Re. These insured losses were slightly lower than the US$47 billion reported for the …
A cluster of severe thunderstorms pounded the US Northeast including New York City on Sunday, unleashing deadly flooding in Pennsylvania, halting operations at several airports, and prompting tornado watches across New England. In Chicago, air quality has reached unhealthy levels …
Scorching temperatures brought on by a “heat dome” have taxed the Texas power grid and threaten to bring record highs to the state before they are expected to expand to other parts of the U.S. during the coming week, putting …
Resolute Global Partners, an investment adviser specializing in insurance and reinsurance, announced the launch of “Footprint,” a new type of reinsurance contract, which the firm created in collaboration with global reinsurance broker Gallagher Re and catastrophe modeling firm Karen Clark …
Private and public insurance entities saw an estimated $15 billion of global losses during the first quarter – close to both average and median losses of the last 10 years, according to Aon’s Q1 Global Catastrophe Recap Report. However, potential …
Aon plc, a leading global professional services firm, updated its Impact Forecasting Europe Windstorm and Severe Convective Storm (SCS) catastrophe models to incorporate emissions scenarios that inform current and future projections of climate and storm activity across the continent. Windstorm …
