LONDON — By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is …
Insurance retailers are teaming up with tech wizards to sell cybersecurity along with cyber coverage as a means of trimming premiums and winning over customers in a vastly underserved market: small and mid-sized businesses. Coalition, a San Francisco managing general …
FRANKFURT — Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s second-largest reinsurance company highlighted claims from …
Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co. 737 Max planes. Munich Re reckons it could pay 150 million euros ($168 million), an estimate that Chief …
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 …
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 …
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 …
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 …
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 …
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 …