third party liability


Camp wildfire industry loss up to $9bn: AIR

The insurance and reinsurance industry loss estimate for the northern Californian Camp wildfire has now been estimated as from $6 billion up to $9 billion by catastrophe risk modeller AIR Worldwide.AIR last week estimated that the southern California Woolsey wildfire would cost the industry at least $2.5 billion.As a result, read the full article →

Woolsey wildfire industry loss at least $2.5bn: AIR

The Woolsey wildfire in southern California is estimated to have caused at least a $2.5 billion insurance and reinsurance industry loss by catastrophe risk modeller AIR Worldwide.The figure is aligned with estimates from brokers, rating agencies and other catastrophe modelling firms.AIR said its assumption is based on 100% take up read the full article →

Wildfire industry loss could be as much as $15 billion: Moody’s

The insurance and reinsurance industry loss from the recent California wildfires could be as much as $15 billion, which would still be a manageable impact although reduce fourth-quarter earnings, according to Moody's.With the loss of property from the Camp and Woolsey wildfires having resulted in over 20,000 structures being destroyed, read the full article →

Amundi Pioneer predicts larger California wildfire ILS loss impact

The recent California wildfire outbreak proved a very difficult catastrophe event to estimate losses to insurance and reinsurance linked assets, as the numbers of properties destroyed by the fire and so the estimated costs kept rising as authorities uncovered more of the damage.The Camp wildfire, in northern California's Butte County read the full article →

Expect $15bn to $19bn California wildfire property loss, says Corelogic

The recent Camp and Woolsey wildfires in the state of California are estimated to have caused total residential and commercial property losses of between $15 billion and $19 billion, according to Corelogic.Corelogic said that its updated residential and commercial property loss estimate for the recent wildfires in California put total read the full article →

RenRe & its Upsilon ILS vehicle potentially exposed to wildfire liability

RenaissanceRe could be on the hook for an enlarged share of losses from the current California wildfire outbreaks given the firm had completed two large wildfire excess casualty deals in the second and third quarters of this year, with its Upsilon vehicle taking some of the risk in the latter read the full article →

California wildfires to cost over $10 billion “if not much more” – Aon

The latest outbreak of California wildfires have now burned their way through more than 20,000 residential or commercial properties and minor structures and this is expected to result in economic losses of above $10 billion, if not much higher, according to broker Aon, with the majority expected to be insured.When read the full article →

California’s Camp wildfire toll rises by another 1,273 structures destroyed

The property loss from the Camp wildfire in California continues to increase as investigations within the almost contained blaze continue, with the total number of residential, commercial and minor structures destroyed by the Camp fire alone rising by another 1,273 or 7% to reach a total of 18,421.The Camp wildfire read the full article →

Wildfire losses should have been priced in, says Fitch

While losses from the ongoing California wildfire outbreak are set to likely be the most significant from the peril ever faced by insurance and reinsurance markets, rating agency Fitch says they should still have been priced into policies."While insured losses are certain to be significant, they are expected to remain read the full article →

California wildfire properties destroyed rises another 8% to 18,652

The number of properties destroyed by the ongoing California wildfire outbreak has risen by another 8% since yesterday, with the total rising to 18,652 structures, across residential, commercial and other buildings types, largely driven by continued assessment of the Camp fire in Butte County.Yesterday, we reported that 17,354 properties and read the full article →