Catastrophe Risks

Significant Shifts Mark Global Property-Casualty Reinsurance Renewals

January 4, 2024

The January renewal season has witnessed substantial transformations in market dynamics within the global property-casualty reinsurance sector, according to a recent report from Gallagher Re. Read More

Insured Natural Catastrophe Losses To Again Top $100 Billion in 2023

December 8, 2023

Worldwide insured losses from natural catastrophes are set to exceed $100 billion again this year, driven by the high frequency of low single-digit billion-dollar loss events, according to Swiss Re. It's the fourth consecutive year that insured natural catastrophe losses topped $100 billion, the reinsurer said. Read More

Atlantic Hurricane Season Meets Forecasts for Above-Average Activity

November 30, 2023

The 2023 Atlantic hurricane season lived up to forecasts with above-average activity and was close to what was forecast by the Tropical Meteorology Project at Colorado State University (CSU), CSU researchers said in their 2023 forecast verification report. Read More

Survey Shows Lack of Flood Preparation Among US Mid-Market Businesses

November 21, 2023

A new survey found that US mid-market businesses are both largely unaware of and unprepared for the flood risks facing their businesses. According to the "Chubb Commercial Insurance Flood Risk Survey" report, some 85 percent of companies mistakenly believe their property insurance covers some, all, or most types of flooding. Read More

US 2023 Billion-Dollar Loss Weather, Climate Disaster Count Reaches 25

November 20, 2023

Through early November, the United States has experienced 25 confirmed weather and climate disaster events with losses exceeding $1 billion, according to updated data from the National Oceanic and Atmospheric Administration's National Centers for Environmental Information. Read More