The cost of natural catastrophe losses in H1 2023, according to Gallagher Re, covered by private insurance or public insurance entities tallied $52B.
Tag: insured losses
June Insured Losses from Severe Convective Storms Estimated at $5.5B
KCC estimates that the insured loss from this Severe Convective Storm (SCS) outbreak will be close to $5.5 billion.
Insurance Losses from Mississippi Tornado Nearing $100M
The Mississippi Insurance Department says insurance losses from the March tornado that carved a path of destruction through parts of Mississippi are approaching $100 million.
Aon Estimates Q1 2023 Global Insured Catastrophe Losses at $15B
Te Impact Forecasting division of insurance and reinsurance broker Aon has issued a preliminary estimate for first-quarter 2023 insured global catastrophe losses, putting the total at around $15 billion.
Swiss Re: Insured Losses from Natural Catastrophes Top $100B Mark in 2022
2022 was the second consecutive year in which insured losses from natural catastrophes exceeded the $100 billion mark.
Global Insured Losses from Natural Disasters Exceeded $130B in 2022
Aon new report reveals that natural disasters caused a $313 billion global economic loss during 2022, of which $132 billion was covered by insurance.
Higher Interest Rates Are Curing a Capital Glut for Reinsurers
There have been many big storms in recent years. But they haven’t come in a market environment quite like this one, with rapidly rising interest rates.
USI: Property Lines with Poor Loss History to See Rate Hikes Up to 150%
According to USI Insurance Services, cat or non-cat property with a poor loss history or risk quality may see rate increases of up to 150% in the first half of 2023.
Swiss Re: Disasters Caused a Total of $122B in Insured Losses in 2022
Natural and man-made disasters caused $268 billion in economic damage, of which $122 billion was covered by insurance.
RMS Estimates $67 Billion in Insured Losses from Ian
RMS®, a Moody’s Analytics company and world-leading risk modeling and solutions provider, estimates total private market insured losses from Hurricane Ian to be between $53 billion and $74 billion, with $67 billion being the best estimate. RMS also estimates that the storm surge and inland flooding could cost the National Flood Insurance Program (NFIP) an… Continue reading RMS Estimates $67 Billion in Insured Losses from Ian