property damage News
Berkshire’s PacifiCorp Expected to Pay $29M to Oregon Wildfire Victims
An Oregon state jury on Tuesday ordered Berkshire Hathaway's PacifiCorp to pay at least $29.2 million to nine homeowners and a summer camp whose properties were damaged by 2020 wildfires they claim ...
U.S. Refiners, Chemical Plants Cut Insurance Cover After Severe Accidents Boost Costs
U.S. refineries and petrochemical plants are cutting back on insurance because several years of severe accidents have driven up the cost of coverage, industry and insurance sources said. With less ...
Hurricane Michael Insured Losses Could Hit Between $6.8B-$10B: RMS
Insured losses from Hurricane Michael now look to be between $6.8 billion and $10 billion, according to a new estimate from catastrophe modeler RMS. That estimate covers insured losses relating to ...
Terrorism’s Global Property Damage Costs Highest Since 9/11 Attacks
In the wake of Friday's massacre in Paris, a new report says the world is paying the highest price for terrorism since the 2001 attack on New York's Twin Towers. In 2014, acts of terror cost the ...
California Wildfires Could Produce Record Insured Losses: Munich Re America
Two major Northern California wildfires destroyed more than 1,000 structures as of early morning on Sept. 16, and Munich Re America said the ongoing crisis could eventually cause historic levels of ...