natural catastrophes News
Insurers Can Take on Coverage Gaps as Disaster Costs and Frequency Rise
Although clear challenges can come with the increasing cost and frequency of global natural disasters, there could also be untapped opportunity for insurers to tackle coverage gaps, according to ...
Natural Catastrophe Economic Losses Hit a Record $353B in 2017: Aon Benfield
Insured losses for last year's 330 natural catastrophes reached $134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon ...
Jan. 1 Reinsurance Renewals Point Toward Moderate Price Increases Through 2018: S&P
After years of declines, January reinsurance renewals finally turned in the other direction in an upward trend that will continue throughout 2018, according to a new Standard & Poor's report. ...
Calif. Mudslides Devastate Billionaire Enclave; Insurance Damage Could Be Massive
The mudslides on the California coastal town of Montecito have devastated a wealthy enclave where billionaires including Charlie Munger, Eric Schmidt and Oprah Winfrey own properties, with hundreds ...
Broker CEO Perspective: The State of the Industry and Three Defining Trends for 2018
A tremendous amount of loss was experienced in 2017. From devastating hurricanes, raging wildfires and earthquakes to acts of terrorism, this past year has tested not only the insurance industry but ...
Churches Now Eligible for FEMA Aid
The Federal Emergency Management Agency (FEMA) announced that private nonprofit houses of worship are now eligible for disaster assistance as community centers, without regard to their secular or ...
Calif. Wildfire Now 45 Percent Contained; Winds Cause Complications
California authorities have declared that the Thomas wildfire, which has been raging for two weeks in Santa Barbara and Ventura counties, is 45 percent contained. Is that reassuring or horrifying? ...
2018 Prediction: U.S. P/C Industry Will Take Time to Recover From 2017 Catastrophes
Property/casualty insurers in the U.S. will rebound in 2018 from the late-2017 onslaught of hurricanes and wildfires, but it will take a while to return to "significant underwriting profits," Fitch ...