According to catastrophe risk modeling firm, RMS, persistent onshore winds coupled with monthly spring tides led to higher than predicted tides and coastal flooding across parts of South Carolina and Georgia this week causing localized property damage. Commenting on the …
A decade after Hurricane Katrina caused $41 billion in property and casualty insurance losses, the most expensive catastrophe ever experienced by the global insurance industry, rising sea levels are driving up expected economic and insurance losses from hurricane-driven storm surge …
RMS, the a global catastrophe risk management firm, estimates that insured property losses from Windstorm Niklas will fall between 750 million and 1.5 billion euro. Losses in Germany will account for around three quarters of the total loss. The loss …
Earthquake risk in the San Francisco Bay Area is on the rise while earthquake insurance penetration statewide has dropped significantly since the Loma Prieta earthquake that rocked the Bay Area 25 years ago, causing nearly $6 billion in economic losses. …
RMS reports that on Friday, July 19 Super Typhoon Rammasun, one of the strongest to hit southeast China in recent years, made three landfalls in the provinces of Hainan, Guangdong, and Guangxi. Rammasun has significantly impacted the Philippines, southeast China …
RMS estimates that insured losses from Hurricane Arthur will not exceed $250 million from wind and coastal flooding. The expected loss covers damages to: Residential, commercial, industrial properties. Automobile and watercraft lines of business. Business interruption resulting from power outages …
Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said on Tuesday. Sandy …
Tropical storm watches are in effect for Jamaica and Haiti (meaning tropical storm force winds are possible in the region in the next 48 hours) as the system tracks north towards the central Caribbean islands. According to the National Hurricane …
Thus far, the 2012 Atlantic hurricane season that is about at its midpoint has seen 14 tropical storms, with seven strengthening to hurricane status. According to catastrophe modeling firm Risk Management Solutions (RMS), the current hurricane season has been active: …
U.S. insured losses from Hurricane Issac’s wind and surge impacts on the U.S. Gulf Coast will fall between USD$1−2 billion, excluding rainfall driven flood losses and all National Flood Insurance Program losses, estimates catastrophe modeler Risk Management Solutions (RMS). This …