Parametric Catastrophe Insurer to Make Record $40M Payout for Haiti Quake August 19, 2021 By L.S. Howard CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the...
Insurer Chubb Offers to Acquire Rival Hartford for $23.24 Billion March 19, 2021 Property and casualty insurer Chubb Ltd on Thursday offered to acquire smaller rival Hartford Financial Services Group Inc in a...
Travelers Posts Second-Quarter Loss, Walloped By Severe Storms, Civil Unrest July 23, 2020 Property and casualty insurer Travelers Cos Inc reported a second-quarter loss on Thursday, hurt by a sharp increase in catastrophe...
Travelers Sees Rising Claims as Coronavirus Crisis Spreads April 21, 2020 Property and casualty insurer Travelers Cos. Inc. reported a 25% drop in quarterly profit on Tuesday and warned that potential...
Past Decade’s Natural Disasters Broke Records for Economic, Insured Losses January 23, 2020 The past decade broke new records in terms of economic damages and insured losses, according to Aon’s latest catastrophe report....
Fire and Hail Push Insurers to Rethink Climate Change Risks September 19, 2019 By Lena Masri LONDON — By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in...
PG&E Posts $2.6 Billion Loss Stemming From Bankruptcy, Wildfires August 9, 2019 By Mark Chediak PG&E Corp., the bankrupt California utility giant, reported a $2.6 billion second-quarter loss and said it expects more charges this...
Analysts: Florida Insurers Can Weather Effects of Michael October 15, 2018 By TERRY SPENCER Florida’s disjointed property insurance system that relies almost exclusively on small and midsize companies will take a multibillion dollar loss...
Adjusters Must Avoid Becoming Part of Catastrophe They Investigate September 11, 2018 By Denise Johnson Editor’s Note: This article, previously published in 2012, offers evergreen tips on staying safe while adjusting catastrophe losses. Displaced rats,...
Biggest Cat Losses of the Past Decade Hit U.S. Insurers July 20, 2018 By Brian Louis Wildfires, hurricanes, tornadoes, hail storms, Nor’easters and mudslides. A string of disasters has pummeled the biggest U.S. insurers over the...