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 …
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 …
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 …
Catastrophe modeling firm Karen Clark & Company (KCC) said on Thursday it expects insured losses of $2.4 billion from the devastating dual Kahramanmaras earthquakes that hit Turkey earlier this month. The number of people killed by the deadliest earthquake in …
The insurance industry is struggling to adapt to a new normal in which losses fueled by climate change are now regularly exceeding $100 billion a year. Insured losses from natural disasters hit about $120 billion in 2022, most of which …
The winter storm that brought frigid arctic air south to the Gulf of Mexico will cause $5.4 billion in insured losses in 42 states, Karen Clark & Co. projected on Thursday. The storm, known as Winter Storm Elliott, brought sub-freezing …
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost insurers an estimated $115 billion so far this year, according to a report published by Swiss Re …
Catastrophe modeler Karen Clark & Co. said Friday that Hurricane Ian will generate nearly $63 billion in losses to private insurers, which would make it the second-most expensive hurricane ever when compared to other estimates. “Hurricane Ian will be a …
Insurers are bracing for a hit of between $28 billion and $47 billion from Hurricane Ian, in what could be the costliest Florida storm since Hurricane Andrew in 1992, according to U.S. property data and analytics company CoreLogic. Wind losses …
Experts predicted insured losses from Hurricane Ian could earn it a spot as one of the costliest natural disasters in history after the storm rapidly intensified before coming ashore in Southwest Florida with 150 mph wind and began a crawl …