Catastrophe Risks

CCRIF, Guardian General Pact Allows Scaling Up Microinsurance Program

February 4, 2022

CCRIF SPC and Guardian General Insurance Limited have signed a memorandum of understanding that will allow them to scale up a microinsurance program to protect individuals and organizations from economic losses resulting from extreme weather events such as high winds and heavy rainfall. Read More

Demand Surge, Inflation Likely To Increase Colorado Wildfire Losses

January 14, 2022

Demand surge and increasing inflationary pressures on building costs will amplify losses from recent Colorado wildfires, according to A.M. Best. In a new commentary, "Demand Surge and Inflation Will Amplify Colorado Wildfire Losses," the rating agency noted that early industry estimates placed losses from December 2021's wildfires at approximately $1 billion. Read More

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