Buffalo snow claims could hit catastrophe reinsurance treaties: A.M. Best

The recent severe snowstorm in the Buffalo, New York state area, could cause losses at some regional property insurance writers to the extent that it hits the retention on their catastrophe reinsurance treaties, according to A.M. Best. No estimates of insured losses are currently available for the Buffalo snowstorm that hit read the full article →

Insured losses from Japan snowstorms in February hit $2.5 billion

Reported insurance industry losses from the severe snowstorms which struck Japan in February have near doubled since our last update on the catastrophe event, now totaling nearly $2.5 billion according to the General Insurance Association of Japan. When we last updated on the insured losses from this event we had a read the full article →

Reported losses from Japanese snowstorms in February pass $1 billion

Reported insured losses from February's severe snowstorms in Japan are rising, with the latest report being a forecast incurred loss of up to $722m from MS&AD Insurance Group Holdings, Inc. MS&AD Insurance Group Holdings, Inc. reported that losses incurred by its subsidiaries Mitsui Sumitomo Insurance Co., Ltd. and Aioi Nissay Dowa read the full article →

Tokio Marine: Incurred losses from Japan snowstorms could hit $535m

Japanese insurer Tokio Marine Holdings has reported that subsidiary Tokio Marine & Nichido Fire Insurance has incurred more than $310m of losses from recent snowstorms in Japan and that its incurred losses may increase to as much as $535m. That is a particularly heavy loss for an insurer to suffer from read the full article →

UK cold snap results in £1.4 billion in claims

The Association of British Insurers (ABI) has released some figures on the claims received following the cold snap in the UK during December 2010. The cold snap experienced the year before in 2009 resulted in £650m in claims, the most recent 2010 cold snap has seen that figure double to read the full article →