Catastrophe Risks
Hurricane Ida Gulf Coast Insured Losses Estimated at Up to $35 Billion
Catastrophe risk modeling firm RMS estimates onshore and offshore US insured losses from Hurricane Ida in Gulf Coast states at $25 billion to $35 billion. The RMS estimate includes wind, storm surge, and inland flood losses across the Gulf Coast states in the landfall region: Alabama, Florida, Louisiana, and Mississippi. Read More
Survey Finds Pace of Employer Vaccination Mandates Accelerating
The pace of COVID-19 vaccination mandates by US employers is likely to increase, according to a recent survey by Willis Towers Watson. The survey also found that more companies will implement financial incentives to encourage vaccinations and will expand test requirements as they update plans to reopen workplaces. Read More
Hurricane Ida Insured Losses Estimated at $15 Billion to $25 Billion
Hurricane Ida will cause significant economic and insured losses in Louisiana and be a significant loss event for reinsurers, according to Fitch Ratings. Fitch noted that early estimates indicate a potential industry insured loss of $15 billion to $25 billion from Hurricane Ida. Read More
CCRIF SPC Making $40 Million Earthquake Payout to Haiti
CCRIF SPC will make an approximately $40 million payout to the government of Haiti following the 7.2 magnitude earthquake that struck Haiti on August 14. A CCRIF statement said the payout represents the full coverage limit under Haiti's parametric insurance policy for earthquake for the 2021–2022 policy year. Read More
Swiss Re Sets First-Half Catastrophe Insured Losses at $40 Billion
Estimated insured losses from natural catastrophes during the first half of 2021 reached $40 billion, according to the Swiss Re Institute. It was the second-highest first-half insured natural catastrophe loss on record, following 2011, Swiss Re said. Man-made disasters were responsible for another $2 billion in insured losses. Read More