Claims & Reserving
May’s Weather Caused Billions in Losses in U.S., Around the Globe: Aon Benfield
Severe weather in May caused an estimated $4 billion in insured damage, and almost twice that in economic losses, in the U.S. alone and billions more in economic losses around the globe, according to ...Allstate Settles Mortgage-Backed Securities Suit Against Citigroup
Allstate Corp. and Citigroup Inc. agreed to settle a lawsuit filed by the insurer in New York state court accusing the bank of fraudulently selling hundreds of millions of dollars of mortgage-backed ...
Oklahoma Tornado to Cost Insurers Up to $3.5 Billion, Says RMS
The tornado that leveled an Oklahoma City suburb last week probably cost insurers $2 billion to $3.5 billion in claims, according to catastrophe modeler Risk Management Solutions Inc. The estimate ...
Insured Losses from May’s 76 Tornadoes Estimated at $2B-$5B: Eqecat
Tornadoes that struck the United States from May 18 to May 20 caused anywhere from $2 billion to $5 billion in insured losses, disaster modeling company Eqecat said. The firm said most of the losses ...
NOAA Forecast: Up to 6 Hurricanes This Season on Atlantic Coast
The government's weather center is forecasting that this year's Atlantic hurricane season that begins June 1 will be an active one, perhaps even extremely active, during its six months. Experts at ...
Insurers Oppose Pittsburgh Corning Bankruptcy Exit Plan
Insurers fighting Pittsburgh Corning Corp.'s reorganization have asked a judge to rescind her initial approval of the building-supply company's plan to exit bankruptcy. U.S. Bankruptcy Judge Judith ...
MPLI Lagging Commercial Lines Underwriting Cycle
Medical professional liability insurance (MPLI) is a smaller specialty property/casualty insurance underwriting segment that has generated strong annual underwriting profits since 2006, considerably ...
P/C Loss Reserve Position Stronger, Conning Says
The property/casualty insurance industry's loss reserve position improved in 2012, according to analysts at Conning, who estimate an overall redundancy of 3.3 percent of carried reserves in spite of ...