Over the past years, persistent extreme weather conditions have triggered severe natural catastrophes and caused losses in the billions. There is a growing number of scientific studies that suggest an increase in quasi-stationary weather patterns and their correlation with the …
The absence of very severe catastrophes and a quiet hurricane season in the North Atlantic meant that losses from natural catastrophes in 2014 were much lower. In North America, overall losses of $30 billion and insured losses of $18 billion …
The third annual National Tornado Summit being held Feb. 10 and 11 in Oklahoma City will bring together insurance industry professionals, emergency managers, policymakers and weather experts. Oklahoma Insurance Commissioner John Doak says it’s an unequaled opportunity for attendees to …
Even a major disaster would be unlikely to push up reinsurance prices given the amount of capital currently available to back policies, said Richard Ward, chief executive officer of Lloyd’s of London. “What is going to change the rate movement? …
Reinsurer Munich Re says a series of severe earthquakes and other natural catastrophes combined with the European debt crisis has sent its profits plunging in 2011. The reinsurer, which writes backup insurance for primary insurers, said Thursday it still managed …