Catastrophic severe convective storms over Memorial Day weekend will likely result in multibillion-dollar insured losses, according to Gallagher Re.
State Farm, the largest U.S. homeowners and personal automobile insurer, said it has taken in about 25,650 claims from 16 states from the storms.
Tag: losses
Insurers, Adjusters and Contractors Can Benchmark Performance Against Trends with Verisk’s 2021 Property Report
As volatile construction costs persist, a historical view of trends paired with up-to-date pricing better equips insurers, adjusters and contractors to understand the impact of these costs on losses. Verisk’s 2021 Property Report for the United States provides insights into property insurance trends for benchmarking. The report analyzed 7,606,375 assignments totaling $68.5 billion in losses… Continue reading Insurers, Adjusters and Contractors Can Benchmark Performance Against Trends with Verisk’s 2021 Property Report
COVID-19 and Effective Business Planning Drive Down Major Energy Sector Losses During 2020-2021
According to a new report by Marsh, the world’s leading insurance broker and risk advisor, the global hydrocarbon extraction, transport, and processing industry experienced a significant reduction in the number of major property damage losses during 2020-2021, due to the combined impact of the COVID-19 pandemic and well-executed business continuity planning. The report, 100 Largest… Continue reading COVID-19 and Effective Business Planning Drive Down Major Energy Sector Losses During 2020-2021