Swiss Re News

Insurers Expect France to Bear Notre-Dame Rebuilding Cost

Major European insurers expect France to bear the bulk of the cost of rebuilding the Notre-Dame Cathedral after a fire tore through the eight-centuries-old Paris landmark on Monday. The cost of a likely multi-year restoration project could itself take a …

NOAA Data Shows Weather Disasters Relatively Mild So Far this Year

It’s only April, and already the United States has experienced two climate disasters that each caused $1 billion in damages and together killed five people, the National Oceanic and Atmospheric Administration reported this week. NOAA’s National Centers for Environmental Information …

Ethiopian Crash Could be Largest Non-War Aviation Reinsurance Claim: Willis Re

LONDON — Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability, reinsurance broker Willis Re said. The crash of …

Swiss Re: Natural Catastrophe Insured Losses Nearly Doubled in 2017

Preliminary sigma estimates for insured global losses resulting from natural and man-made disasters in 2017 are around $136 billion, well-above the annual average of the previous 10 years, and the third highest since sigma records began in 1970. Total economic …

4 Lessons From Hurricane Andrew

It’s been 25 years since Hurricane Andrew struck the coast of Florida on August 24, 1992. The state was no match for the 17-foot storm surge and high winds the category 5 storm produced. Andrew became the costliest disaster in …

Swiss Re: Much Lower Catastrophe Costs in First Half of 2017 Versus 2016

According to preliminary sigma estimates, global total economic losses from natural catastrophes and man-made disasters in the first half of 2017 were $44 billion. That was well below the first half annual average of $120 billion of the last 10 …

Insurer Says Miami is Even More Vulnerable to Hurricanes Like Andrew

Almost 25 years have passed since a Category 5 hurricane struck south of Miami, and the city’s vulnerability to catastrophic storm damage has grown exponentially, according to a new insurance underwriters’ analysis. At the time, Hurricane Andrew was the most …

Swiss Re Estimates 2016 Cat Insured Losses at $49B

Earthquakes, hail, thunderstorms and Hurricane Matthew resulted in the largest insurance losses in 2016. Total economic losses from natural catastrophes and man-made disasters in 2016 are estimated to be $158 billion in 2016, according to figures released by Swiss Re. …

People News: CSAA, Swiss Re, State Auto

CSAA Insurance Group Appoints Huebner Chief Risk Officer CSAA Insurance Group, a AAA Insurer, announced the appointment of Jeff Huebner as the company’s new chief risk officer. In his new role, Huebner will be responsible for managing all aspects of …

Business News: Windham Group, MedRisk, Swiss Re

Windham Group Establishes New IME Company Serving Workers’ Comp Industry N.H.-based The Windham Group has launched Logical IME, a new independent medical examination company serving workers’ compensation payers. Conducted by physicians who specialize in treating the condition and who have …