Catastrophe Risks

Reinsurers' Reports Show 2021 Among Costliest Natural Disaster Years

January 12, 2022

The world's two largest reinsurers differ slightly on total insured catastrophe losses in 2021, though both report a figure that ranks among the largest in history. Munich Re estimated $120 billion in insured natural disaster losses in 2021, while Swiss Re put the figure at $112 billion. Read More

US Experienced 20 Billion-Dollar Weather and Climate Disasters in 2021

January 11, 2022

The United States experienced 20 separate billion-dollar weather and climate disasters in 2021 as the country experienced its fourth-warmest year on record in 2021, according to the US National Oceanic and Atmospheric Administration (NOAA). It was the second-highest number of billion-dollar weather and climate disasters in US history. Read More

Risk Modeler Estimates Colorado Wildfire Insured Losses at $1 Billion

January 7, 2022

Catastrophe risk modeling firm Karen Clark & Company has estimated insured losses from the recent Marshall Fire in Boulder County, Colorado, at approximately $1 billion. The fire, which began December 30, destroyed nearly 1,000 structures and damaged more than 100 more. Read More

Bermuda Insurers, Reinsurers Expect $6 Billion in Hurricane Ida Losses

December 21, 2021

Bermuda insurers and reinsurers estimate they will incur $6 billion in gross claim losses as payments to US policyholders to cover damage from Hurricane Ida, according to the Bermuda Monetary Authority (BMA). The estimate is from commercial insurers' market claims data collected by the BMA in November. Read More

Insurers Likely Able To Absorb Losses from Deadly Tornado Outbreak

December 16, 2021

A.M. Best said it expects insurance companies to be able to absorb losses from the deadly tornado outbreak that struck six US states December 10–11, but supply chain challenges and inflation may exacerbate insured losses. The tornado damage will dampen underwriting results for US property-casualty insurers. Read More