Catastrophe Risks

US P&C Insurers Saw Record Surplus Drop in the First Quarter

July 31, 2020

The US property and casualty (P&C) insurance industry experienced its largest-ever quarterly decline in surplus during the first quarter of this year when surplus fell $75.9 billion, according to Insurance Services Office, Inc., a Verisk business, and the American Property Casualty Insurance Association. Since then, the COVID-19 pandemic has continued to affect many insurers. Read More

First Half's $68 Billion in Natural Disaster Losses Below Average

July 28, 2020

Natural disasters caused approximately $68 billion in losses during the first half of 2020, slightly below the inflation-adjusted 30-year average of $74 billion, according to Munich Re. Insured losses, at $27 billion, were above the average of $20 billion due to the large proportion of North American weather disaster losses. Read More

For US Property and Casualty Insurers, COVID-19's Impact Remains Uncertain

July 24, 2020

The COVID-19 pandemic's impact on insurers' financial statements will likely be more pronounced in the second quarter than it was in first-quarter results, according to S&P Global Ratings. The infection rate and deaths related to COVID-19 grew significantly in the second quarter, and business shutdowns were also more pronounced. Read More

Risk Modeler AIR Worldwide Updates US Hurricane, Inland Flood Model

July 23, 2020

Catastrophe risk modeling firm AIR Worldwide (AIR) has updated its hurricane and inland flood models for the United States. The updates will help insurers and reinsurers enhance their risk management and provide a comprehensive view of flood risk across the US, AIR said. Read More

Second Wave of COVID-19 Could Challenge Insurers' Resilience: S&P

July 14, 2020

Insurers' and reinsurers' ratings have proven resilient during the first wave of the COVID-19 pandemic, largely as a result of their capital strength, according to S&P Global Ratings, though a second wave of COVID-19 could prove challenging. Those capital buffers will be eroded through the second half of the year. Read More