Hurricane Dorian analogue storms from the past, so major category 3 and 4 hurricane landfalls in Florida with similar tracks, show a range of $11.3 billion to $37.2 billion of insurance and reinsurance industry losses, according to RMS. Data shared with us by catastrophe risk modelling specialist RMS shows that the nearest category 3 and… Continue reading Hurricane Dorian Analogues Show $11.3B to $37.2B Industry Loss Range: RMS
Tag: business insurance
Hurricane Dorian Landfall in Florida Could Hurt Reinsurers the Most: KBW
Analysts at Keefe, Bruyette & Woods (KBW) believe that Tropical Storm Dorian is likely to impact reinsurers more than primary carriers if it strengthens and makes landfall in Florida. Current forecasts suggest that Dorian could develop into a Category 2 hurricane with wind speeds in excess of 100mph before making landfall along the east coast… Continue reading Hurricane Dorian Landfall in Florida Could Hurt Reinsurers the Most: KBW
Dorian Expected to Near Hurricane Strength As It Spins Toward Puerto Rico
Tropical Storm Dorian is expected to be near hurricane strength when it approaches Puerto Rico on Wednesday, a threat that has residents taking precautions on an island still grappling with the devastation of 2017’s Hurricane Maria. The storm’s center is expected to pass near, or just south of, Puerto Rico on Wednesday before moving near… Continue reading Dorian Expected to Near Hurricane Strength As It Spins Toward Puerto Rico
Florida Doesn’t Know Why So Many Hurricane Michael Insurance Claims Are Still Open
Under Florida law, residential property insurers are supposed to pay their claims within 90 days. Yet 10 months after Hurricane Michael wiped out a swath of the Panhandle, the state’s insurance regulators can’t say how many of the more than 20,000 open claims are in violation of the law. At least as far back as… Continue reading Florida Doesn’t Know Why So Many Hurricane Michael Insurance Claims Are Still Open
The Hilb Group Expands Southeast Presence through Acquisition of Huckaby & Associates Inc.
The Hilb Group, LLC (THG) announced today the acquisition of South Carolina-based Huckaby & Associates, Inc. (“Huckaby”). The transaction became effective December 1, 2018. Founded in 1976, Huckaby provides a full range of property and casualty insurance solutions to businesses and individuals throughout South Carolina, North Carolina, and Georgia. Huckaby specializes in commercial business insurance,… Continue reading The Hilb Group Expands Southeast Presence through Acquisition of Huckaby & Associates Inc.
Survey: Millennial Business Owners Most Likely Generation to Work with Insurance Agents
Cautious Millennial business owners are more likely than other generations to work with insurance agents on a wide variety of insurance and financial issues, according to recent survey data. “Millennial business owners came of age during the 2008 recession—a time of economic crisis marked by uncertainty in financial markets, significant job reductions across the country… Continue reading Survey: Millennial Business Owners Most Likely Generation to Work with Insurance Agents
Cincinnati Financial to Acquire MSP Underwriting Limited from Munich Re
Cincinnati Financial Corporation announced that it has signed a definitive agreement to acquire MSP Underwriting Limited, a global specialty underwriter and Munich Re subsidiary, in an all-cash transaction for £102 million, based on MSP Underwriting’s projected net asset value at closing. The transaction has been approved by Cincinnati’s board of directors and is expected to… Continue reading Cincinnati Financial to Acquire MSP Underwriting Limited from Munich Re
Fearing Massive Earthquake, California Considers Requiring Lists of Buildings Most Likely to Collapse
Structural engineers and seismic experts in California can drive along a street and quickly identify at least some buildings most vulnerable to collapse in a major earthquake. There are some telltale signs: parking spots under apartments, brick walls that have not been reinforced, first floors held up by flimsy poles. But it’s harder for the… Continue reading Fearing Massive Earthquake, California Considers Requiring Lists of Buildings Most Likely to Collapse