Catastrophe Risks

AIR Estimates Global Annual Insured Catastrophe Losses at $106 Billion

October 28, 2021

On average, catastrophes around the world are expected to cause annual insured losses of $106 billion, according to modeling firm AIR Worldwide. The estimate is from AIR's 2021 Global Modeled Catastrophe Losses report, which details global financial loss metrics based on AIR's latest suite of models reflecting near-term climate risk. Read More

US Property Insurers Might Face a $12.5 Billion "Silent Cyber" Risk

October 20, 2021

The US property insurance market is accumulating cyber risk to the extent that a 1-in-100-year loss could result in $12.5 billion in nonphysical damage losses, according to a new report. The report is based on a study by insurance industry cyber-risk analytics firm CyberCube, A.M. Best, and Aon. Read More

NOAA Predicts "Double-Dip" La Nina Extending through Winter

October 19, 2021

A La Niña has developed and will extend through a second winter in a row, potentially influencing the remainder of this year's Atlantic hurricane season and winter weather in the United States and Canada, according to the Climate Prediction Center of the National Oceanic and Atmospheric Administration (NOAA). Read More

United States Experiences Record 18 Billion-Dollar Disasters through September

October 14, 2021

The United States saw 18 separate billion-dollar weather and climate disasters during the first 9 months of 2021, according to the National Oceanic and Atmospheric Administration's National Centers for Environmental Information. This year is also a record 7th consecutive year in which the United States experienced 10 or more billion-dollar disasters. Read More

Swiss Re Estimates Hurricane Ida Industry Losses at Up to $30 Billion

October 8, 2021

Swiss Re has estimated total reinsured losses from Hurricane Ida at $28 billion to $30 billion, with its losses estimated at approximately $750 million. Hurricane IDA was the second-most intense hurricane on record to hit Louisiana and also caused extensive wind and flood damage across the Eastern and Mid-Atlantic United States. Read More