News
Vermont High Court: COVID Virus, Like Cat Urine, Can Cause Physical Loss
Citing decisions that found insurance coverage was owed for contamination caused by cat urine and gasoline vapors, the Vermont Supreme Court broke from courts across the nation and found that ...
Nearly 84,000 Florida Properties Flooded by Ian: ICEYE First Estimate
ICEYE, a provider of SAR (synthetic aperture radar) satellite data, revealed on Friday morning that a total of 83,879 Florida properties have been impacted by flooding from Hurricane Ian, based on ...
Citizens’ Early Ian Loss Estimate $3.8B; Florida OIR Suspends Use and File
Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims ...
Underwrite or Autowrite? How Machines Help (or Hurt) the Underwriting Profession
The person who invented autocorrect should burn in hello. We've probably all seen some form of this joke and thought about a situation where a word we wanted to type was replaced by one we definitely ...
Insurers Warn California’s Inaction Threatens Auto Policies
Top U.S. insurance companies and associations say California is risking a crisis in the nation's largest automobile insurance market by refusing to approve any rate increases for more than two years, ...
Unrated Insurers at Risk From Ian; Reinsurers Impacted: Fitch
Offering an initial estimate of $25-$40 billion in insured losses from Hurricane Ian, Fitch Ratings said that P/C insurance and reinsurance company credit ratings are unlikely to be downgraded as a ...
Hurricane Ian Threatens Heavy Losses for Catastrophe Bondholders
Investors who backstop Florida's insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and ...
Insurers Should Be Ready for Global Average Disaster Losses of $123 Billion: Verisk
The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every year, according to the 2022 Global Modeled Catastrophe Losses Report ...