Claims & Reserving Archives - Page 2 of 70

Hurricane Ian Drives Global Insured Losses of $115B From Natural Disasters: Swiss Re

Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia, and hailstorms in France and the U.S., have cost global insurers an ...

Munich Re: 2022 Hurricane Season Third-Most Expensive

The 2022 North Atlantic hurricane season caused approximately $65 billion in insured losses and overall losses around $110 billion, making it the third-most expensive ...

Broken Promises? Policyholders React to Cyber Insurer Exclusions, Claim Denials

Colonial Pipeline, JBS, Kaseya and other major attacks of last year have demonstrated that if ransomware wasn't already a common part of the global vocabulary, it ...

Global Natural Disasters Cost Insurers $99B in Q3, With Economic Losses of $227B: Aon

Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion, of which $99 billion was covered by public and private insurers, which means ...

Broken Infrastructure, Scattered Wreckage, Alligators Greet Claims Teams

Damaged infrastructure created new obstacles for claims adjusters responding to Hurricane Ian, along with widespread flooding, damaged cellphone towers and even an occasional alligator. Sedgwick ...

Ian Claims in Florida Topping 449,000 So Far, But Many More Expected

The number of claims filed from Hurricane Ian continues to rise, topping 449,000 as of Monday, and estimated insured losses stand at more than $4.2 billion, the Florida Office of Insurance Regulation ...

AM Best Says Tower Hill ‘Rearranging the Furniture’; Faces Surplus, Capital Problems

The downgrade of one of Tower Hill's insurance companies by AM Best financial rating firm, announced the day that Hurricane Ian nosed into southwest Florida, has led to new speculation that Tower ...

Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance?

While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are now warning that the storm ...

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 ...

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 ...