Annual convective storm expected losses near $25bn: Karen Clark & Co.

According to new research from catastrophe risk modelling specialists Karen Clark & Company, annual expected insured losses for the severe convective storm (SCS) peril in the United States are now approaching $25 billion, which is higher than hurricane and earthquake perils combined.The insurance, reinsurance and insurance-linked securities (ILS) industry is read the full article →

German flood insurance losses likely EUR 1 billion: Fitch

Insurance industry losses from recent floods in Germany will likely reach the EUR 1 billion ($1.14 billion) point, according to Fitch Ratings. The losses may weaken the underwriting profitability of the sector and, on top of losses in France and other European countries, are likely to hit some reinsurance layers.Fitch read the full article →

Storm Elvira to cost German insurers $510m+, says GDV

German insurance industry association the GDV has said today that it expects insurers will face at least $510m (EUR450m) of losses due to storm Elvira's impacts which struck the country from the 27th to 30th May.The estimate from the GDV (or Gesamtverband der Deutschen Versicherungswirtschaft) does not include impacts caused read the full article →

U.S. tornado forecasting tool shows promise

Meteorologists have long studied the unpredictability and devastation caused by tornado outbreaks in the U.S. in an effort to gain a greater understanding into the predictability, severity and potential location of events.And now, new research by Dr. Victor Gensini has shown some promising signs of predicting favourable tornado conditions up read the full article →