hailstorms News

Catastrophe Losses Double at Travelers as Insurance Industry and More Regions Absorb Severe Weather

Travelers, considered a bellwether for the insurance industry due to its size, said catastrophe losses doubled in its most recent quarter and the company swung to a loss as severe wind and hailstorms in a number of regions led to …

Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re

Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailstorms in France, floods …

Swiss Re Posts Loss on Hurricane Hit, Signals Price Hikes Ahead

Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5 billion in claims related to …

Hurricane Winds, Fierce Storms Leave 7 Dead in France, Italy

PARIS (AP) — Violent thunderstorms and hurricane-force winds left at least seven dead Thursday in France and Italy, uprooting trees in Tuscany and on the French island of Corsica and ripping away brick shards from St. Mark’s famed bell tower …

How One Startup is Trying to Help Car Dealers Weather Hailstorms

Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice president at Rickenbaugh Automotive Group. Two years ago he paid about …

Hannover Re Sees Higher Rates in Germany on Floods, Hailstorms

Hannover Re, the world’s third- largest reinsurer, said it expects higher rates for insurance and reinsurance in Germany following this year’s flooding and hailstorms, which led to the most costly claims in 30 years. “In view of the considerable losses …

Tarrant County, Texas, Leads State in Hailstorms: NOAA

The residents of Fort Worth, Texas, and its suburbs in Tarrant County share the dubious honor of being the area most pounded by hailstorms than in any other part of the state, according to data compiled from the National Oceanic …

Hailstorms, Heat and Wildfires Made 2011 a Rough Year in Texas

With weather forecasters issuing severe weather alerts for Texas as a slow moving cold front rolls across the state, many Texans may be reminded of the natural forces in 2011 that destroyed lives and property in all corners of the …