insured losses News

Swiss Re: Frequency and Severity of Strikes, Riots and Civil Commotion Losses on the Rise

A new report shows a dramatic increase in strikes, riots and civil commotion in the past two decades from 2000 to 2020. There has been a 3000% increase in SRCC events in the 20-year period, according to a report released …

AccuWeather: Record Warm Winter Costs Businesses Billions in Losses

Unseasonably warm winter weather cost businesses and event planners in the northern Plains and upper Midwest billions of dollars in estimated losses, according to estimates from AccuWeather. Minnesota, North Dakota, Wisconsin, Michigan and Iowa experienced the warmest winter on record, …

Feds Announce Another $100M for Collaborative Wildfire Risk Reduction Program

The federal government announced that additional $100 million of Inflation Reduction Act funding will be allocated toward 21 high-risk landscapes the Agriculture Department has identified as priorities. The total will include $400 million in funds from the Inflation Reduction Act …

Storm Henk Causes Around 150M Pounds in UK Insured Losses

LONDON — Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around 2,000 properties, consultants PwC said on Wednesday. Heavy rain caused major rivers to burst their banks and the …

Munich Re: Quakes and Storms Cause $95 Billion in Insurance Losses in 2023

Earthquakes in Turkey and Syria, storms in the United States and other natural disasters caused an estimated $95 billion in insured losses in 2023, down from the previous year but still above the long-term average, Munich Re said on Tuesday. …

Insured Loss Estimates from Japan Earthquake Range from $1B to $6.4B

Insured losses from the devastating earthquake in Japan could reach $6.4 billion, according to an estimate from U.S.-based catastrophe modeling firm Karen Clark & Co (KCC). Losses from residential properties account for more than two thirds of the total, according …

Global Insured Losses From Severe Convective Storms Hit New High of $60B: Swiss Re

Global insured losses from severe thunderstorms have hit a new all-time high of $60 billion in 2023, with overall natural catastrophe claims surpassing $100 million, according to Swiss Re Institute in a new report. As the United States is particularly …

Aon Report Says Insured Losses from Severe Convective Storms Tops $50B for First Time

Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global insured losses, according to …

Insurance Industry Should Expect $100 Billion in Catastrophe Losses Every Year: Verisk

Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models …

Insurance Losses from Mississippi Tornado Nearing $100M

JACKSON, Miss. (AP) — Insurance losses from the March tornado that carved a path of destruction through parts of Mississippi are approaching $100 million, and uninsured losses will likely exceed that number, the state insurance department announced Tuesday. The damage …