March 28, 2024
Homeowners are increasingly worried about hazards and rising insurance costs as temperatures rise in the U.S. A survey of nearly 2,000 U.S consumers shows 51% of homeowners are worried climate change-related hazards will affect their homes, while others polled worry …
March 28, 2024
Accuweather meteorologists are predicting an above-average Atlantic hurricane season with as many as 20-25 named storms. The 2024 hurricane season is forecast to feature 8-12 hurricanes including 4-7 major hurricanes. This year has the potential to break the all-time record …
March 26, 2024
Around the world, insured damages inflicted by natural catastrophes are climbing fast and set to double in roughly 10 years, the Swiss Re Institute — the research arm of the giant reinsurance firm — said in a report published Tuesday. …
March 25, 2024
One of the most pressing challenges facing insurance professionals today is the escalating impact of extreme weather events in traditionally disaster-prone areas. Last year alone, the U.S. witnessed a staggering $92.9 billion in weather-related damages, making it a record-breaking year …
March 22, 2024
Florida’s beleaguered property insurance market is starting to look normal again, with the top insurers in the state showing a collective profit for the first time in seven years, S&P Global Market Intelligence reported this week. The turnaround for 2023 …
March 11, 2024
Louisiana Insurance Commissioner Tim Temple expects lawmakers to allocate at least $20 million to the Lousiana Fortify Homes Program during the legislative session that begins on Monday. The funds would applied to the program for use in the next fiscal …
March 7, 2024
Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and upward reinsurance pricing. Analysts in the report published yesterday found that …
February 28, 2024
Eleven tornadoes were reported across the Midwest, with five coming in Illinois, four in Ohio and two in Michigan, the US Storm Prediction Center said as of 7 a.m. New York time. In addition, there were 36 instances of high …
February 26, 2024
As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. The strategy in question is tied to insurance-linked securities, which are dominated by …
February 22, 2024
Last year saw 141 days with large hail (2 inch or greater)—the highest number of days in 20 years, according to a new report by CoreLogic. The 2024 Severe Convective Storm Report details how severe thunderstorm risk is growing in …