Catastrophe Risks
AIR Estimates California Wildfire Insured Losses Up to $3 Billion
Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the Tubbs, Pocket, Nuns, Atlas, Redwood, and Sulphur fires in California will be between $2 billion and $3 billion. AIR's loss estimates capture residential, mobile home, commercial, and automobile losses, as well as direct business interruption losses. Read More
Overview of Hurricane Nate's $650 Million-$1.35 Billion in Total Loss
CoreLogic announced preliminary loss estimates for Hurricane Nate. According to the data analysis, total insured and uninsured loss for both residential and commercial properties, including damage from both flood and wind, is estimated to be between $650 million and $1.35 billion. Read More
RMS Caps Insured Losses from Puebla Earthquake at $1.2 Billion
Catastrophe risk modeling organization Risk Management Solutions (RMS) has provided its initial loss estimates following the Puebla earthquake in Central Mexico on September 19, 2017. RMS said that economic shake losses will be between $4 billion and $8 billion, but it expects that insured losses will not exceed $1.2 billion. Read More
Captive Insurance Use Around Catastrophe Losses
The recent spate of natural disasters has focused a spotlight on catastrophic losses. "Captive insurance," says JLT Insurance Management's (JLIT's) Anne Marie Towle, "can play an important role in helping organizations defray some of the related financial losses." Read More
Bermuda Captive Insurers Will Cover Their Fair Share of Hurricane Losses
Last week's Bermuda Captive Conference highlighted the Bermuda insurance market's role in global risk innovation as well as the Bermuda insurance industry's value, through billions of dollars of claims payments, in helping communities and businesses recover and rebuild after catastrophic events like Hurricane Irma. Read More