Turkey Earthquake Tops 2023 Insurance Industry Losses Outside US: CRESTA January 2, 2024 The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an...
Climate Change Makes Forecasting Harder, Australia’s Agriculture Minister Says January 2, 2024 By Swati Pandey Climate change is making it harder to accurately predict extreme weather events, said Australia’s agriculture minister Murray Watt, amid criticism...
Extreme Weather in Germany Costs Insurers US$5.4 Billion in 2023: GDV December 29, 2023 Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4...
7th Person in Tennessee Dies from Tornado December 22, 2023 By Jonathan Mattise NASHVILLE, Tenn. (AP) — A seventh person in Tennessee has died from injuries she suffered during a string of powerful...
Global Insured Losses From Severe Convective Storms Hit New High of $60B: Swiss Re December 7, 2023 Global insured losses from severe thunderstorms have hit a new all-time high of US$60 billion in 2023, with overall natural...
P/C Insurers Face Challenging Claims Dynamics as Frequency, Severity Rise: Swiss Re November 28, 2023 By L.S. Howard The property/casualty insurance industry is confronting challenging claims dynamics, with rising frequency and severity of claims despite decreases in economic...
Insured Losses From Severe Convective Storms in US Top $50B for 1st Time: Aon October 20, 2023 By L.S. Howard Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50...
US Already Sets Record for Yearly Billion-Dollar Weather Disasters September 13, 2023 By Seth Borenstein The deadly firestorm in Hawaii and Hurricane Idalia’s watery storm surge helped push the United States to a record for...
Loss Trends for Severe Convective Storms September 7, 2023 By L.S. Howard Loss trends for severe convective storms (SCS) have increased over the past 15 years and even more during the past...
Allstate Starts Q3 With $313M in Catastrophe Losses in July August 18, 2023 Allstate Corp. said estimated catastrophe losses for the month of July were $313 million or $247 million, after-tax. July has...