insured losses News
State Focus: Missouri Insured Catastrophe Losses Near $2B in 2025
Severe weather events have already caused nearly $2 billion in insured losses throughout Missouri this year, according to the state's Department of Commerce and Insurance (DCI). "The insurance ...
Homes With Toxic Smoke Damage Deepen Insurance Nightmare in LA
Months after fire tore through Los Angeles' Pacific Palisades neighborhood, homeowners are struggling to get reimbursed — not for houses reduced to rubble, but for the damage of smoke and toxins in ...
Verisk’s PCS Classifies CrowdStrike Incident as a Cyber Catastrophe
Verisk's Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes ...
AM Best: No Relief for Homeowners Line Hit With $15.2B U/W Loss in 2023
The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the losses seen in the previous year and the line's worst underwriting results since at ...
KCC: Frequent SCS Activity Emphasizes Need for Latest Modeling Tech
Despite only one landfalling hurricane, 2023 wasn't a good year for property/casualty insurers, and severe convective storms (SCS) are being blamed for the bad results, according to Karen Clark & ...
KCC: U.S. Damage from Hurricane Beryl Could Cost Insurers $2.7B
Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co (KCC) said on Thursday. About 1.5 million ...
U.S. Property Reinsurance Rates Rose Nearly 50% for Some on Jan 1
U.S. property catastrophe reinsurance rates rose by as much as 50 percent on the key Jan. 1 renewal date, broker Gallagher Re said in a report on Tuesday, as reinsurers look to recoup losses from ...
Why Hurricane Costs Keep Rising Even as Building Codes Get Tougher
Despite efforts to reduce vulnerability to catastrophic weather events such as Hurricane Ian, rapid population growth and increased storm frequency have driven loss expectations even higher, ...