Hurricane Harvey News
Zurich Reports $700M in Estimate Pre-Tax Claims From Harvey, Irma and Maria
Zurich Insurance Group said it property/casualty business will deal with approximately $700 million in pre-tax losses for Q3 relating to Hurricanes Harvey, Irma and Maria. The number is also net of ...
Travelers CEO Schnitzer: ‘Our Disciplined Underwriting Stood Up to the Storms’
While hurricanes hammered Travelers with $700 million in pre-tax catastrophe losses, the property casualty insurer still ended its 2017 third quarter in the black. Travelers reported $293 million in ...
Q3 Catastrophe Losses Will Lead to Rate Hikes by London Market Insurers: Fitch
Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers' loss-affected lines and could also affect wider market pricing trends, ...
What Harvey and Irma Say About the Accuracy of Catastrophe Models
Four hours after Hurricane Andrew made landfall near Homestead, Fla. in 1992, catastrophe modeler AIR issued a statement that the insured losses could exceed $13 billion in Florida. Actual losses ...
S&P Changes Lloyd’s Outlook to Negative; Cat Loss Tallies Continue
While affirming the A+ financial strength rating of the Society of Lloyd's, S&P Global Ratings announced said Thursday that it revised the rating outlook to negative from stable in the wake of ...
Cat Bond Issuance Still Has a Record Year; Q3 Was Typically Slow
Catastrophe bond issuance came to just $460 million in new limit during the 2017 third quarter, though the typically slow Q3 added to what remains a record year for the sector, the Property Claims ...
AIG Warns of Possible $3.1B Catastrophe Loss Hit for Q3 from Hurricanes, Earthquakes
American International Group warned it faces as much as $3.1 billion in pre-tax catastrophe losses for the 2017 third quarter, largely from three hurricanes and two Mexico earthquakes. The ...
Hurricane Nate’s Insured Losses Will Reach Close to $500M: Karen Clark & Co.
Hurricane Nate will likely cause close to $500 million in insured losses, according to a flash estimate from catastrophe modeling form Karen Clark & Co. While the number is not insignificant, it ...