Claims & Reserving
Floods Could Slow German Economy; Fitch Estimates Damage at 12B Euros
Floods that have devastated parts of southern and eastern Germany could briefly impede growth in Europe's biggest economy, an industry body said, while ratings agency Fitch said the economic cost ...
Flaw of Averages: Why Carriers Overpay & Underpay Contents Claims
In his book, The Flaw of Averages, author Sam Savage explores how the widely used statistical concept of "averages" can wreak havoc on our forecasting and decision making. He explains the law's ...
Economic Damage to Far Exceed $2.65B Insured Losses From Europe Floods
The losses insurers face from the worst flooding in central Europe since 2002 may be lower than those resulting from the deluge 11 years ago even as the toll on local economies looms larger. Insured ...
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 ...