All Catastrophe losses articles – Page 2
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NewsClimate change justifies 50% property cat rate hikes - EY
Cat events have cost UK re/insurers more than double over the past six years than the preceding decade
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NewsFitch follows S&P in SCOR downgrade
Downgrade reflects the reinsurer’s continued weak financial performance, which “has worsened in 2022”
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NewsInflation and nat cats are creating ‘perfect storm’ at 1/1
A sharp reduction in available nat cat reinsurance capacity will make for a challenging renewal season - Clyde & Co
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NewsRising interest rates a “silver lining” for insurers
Despite a looming recession, insurance premium growth will rebound in 2024 as interest rates rise - sigma
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NewsBaden Baden: Cedants must dramatically increase retentions
As reinsurance capacity retreats and inflation soars, insurers must be prepared to retain more risk - Swiss Re
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NewsGallagher Re: Ian was Southwest Florida’s ‘Andrew’
Hurricane is set to be one of the costliest US catastrophe events on record; despite building code ‘success stories’
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NewsNat cats cost insurers $99 billion so far in 2022
Economic losses through the end of Q3 2022 are estimated at $227 billion, representing a protection gap of 56 percent
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NewsCatastrophic floods hit three Australian states
More extreme weather is on its way with widespread rain and storms forecast across eastern Australia later this week
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NewsHurricane Ian to cost insurers up to $74 billion - RMS
Estimate reflects insured wind, storm surge, and inland flood impacts for the US with additional NFIP losses up to $10 billion
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NewsRIMS calls for long-term extension of NFIP
As Florida reels from Hurricane Ian, the US flood insurance program receives a brief reprieve
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NewsTotal economic damage from Ian to breach $100 billion, says KCC
Cat modeller predicts high proportion of litigated claims due to ‘tremendous amount’ of coastal flooding
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NewsInflation a major wildcard for Florida recovery - RMS
’Wind versus water’ claims disputes to arise post Ian, with full recovery likely to “take years”
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NewsVerisk pegs Ian losses at $42 to $57 billion
Ian brought significant storm surge damage, however, the flood insurance take-up on residential risks in Florida are low
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NewsS&P predicts Hurricane Ian losses of up to $40 billion
Citizens Property Insurance Corporation has estimated it expects losses of about $3.8 billion
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NewsHurricane Ian to bring ‘near record’ insurance losses
Ian will leave insurers with their largest loss since Hurricanes Harvey, Irma and Maria in 2017, says GlobalData
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NewsHurricane Ian barrels across the Florida peninsula
Two million people are without power after the 5th most powerful storm in US history slammed into the southwest Florida coast
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NewsProperty cat retrenchment is improving market ‘stability’
Most large European players remain committed to cat business, but are moving away from lower layers of protection - AM Best
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NewsAriel Re: It’s time to stop selling Ferraris at Ford pricing
Reinsurer’s Joel Willens expects to see a further reduction in appetite for property cat going into the renewal season
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NewsReinsurance pricing correction ‘unavoidable’ - Hannover Re
Large loss trend, pandemic and rising inflation require further improvements in prices and conditions, insists reinsurer
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NewsPERILS adds European flood to its repertoire
Demand is growing for industry loss triggers as cedants seek alternatives amid the ongoing hard market - CEO Hitz
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