tornado

Munich Re has published a report and data on the natural catastrophe loss events which have impacted the world and the reinsurance sector in the first half of 2011. To date, 2011 is now the most disastrous on record according to Munich Re, with total economic losses for the first six months of the year […]

As insured loss estimates from the record-setting U.S. tornado season are reported, the potential impact to exposed catastrophe bonds become clearer. The latest update on the cat bond fallout was reported today as Standard & Poor’s announced that they have downgraded the ratings of Mariah Re Ltd.’s Series 2010-1 notes.

Aon Benfield have issued a report analysing the severe thunderstorms and tornadoes which swept across the U.S. midwest, southeast and plains during April and May causing widespread damage and destruction. They identify at least eight separate outbreaks with five of them causing at least $1 billion in losses. Their estimate of insured losses of $15 […]

The toll to U.S. insurers from the severe thunderstorms and tornadoes in April and May just keeps rising. At the end of May insurer State Farm announced that their claims payments made to clients in the wake of the severe weather were approaching $1 billion. Now, just 18 days later that total is nearing $2 […]

Allstate are the latest U.S. insurer to announce massive losses due to the severe weather which hit the U.S. midwest and south during April and May. Being the largest home and auto insurer in the U.S. their losses were always going to be meaningful. The period of severe thunderstorms which spawned record breaking numbers of […]

The Mariah Re Ltd. catastrophe bond, which provides coverage to American Family Mutual Insurance for severe thunderstorms including tornadoes, has continued to incur qualifying event losses from the recent severe weather across the U.S. The events which have qualified have now resulted in sufficient covered losses for the rating of the transaction to be placed […]

U.S. property and casualty insurer The Travelers Companies has announced that it expects to face insured losses of over $1 billion for the severe weather experienced in the U.S. during April and May. The estimate reflects losses from the severe thunderstorms across the Midwest and Southeast U.S. which spawned many tornadoes and severe hail storms.

Risk modelling firm AIR Worldwide have issued an estimate for the amount of insured losses caused by severe thunderstorms and tornadoes which struck the U.S. between the 20th and 27th May this year. AIR believe that the storms which affected a large area of the U.S. will cause insured losses to residential, commercial and industrial […]

Bermuda based reinsurer PartnerRe has issued a preliminary estimate of the losses it expects to see due to the tornado outbreak that impacted the U.S. during the last week of April 2011. This spell of tornadic weather caused hundreds of deaths and widespread damage, the worst of which was when impacted the state of Alabama, […]

Insurer State Farm, has announced that it has already paid close to $1 billion in claims to policyholders for damage caused by severe thunderstorm, hail and tornado damage in late April and early May. If categorized as one event State Farm say the three most devastating outbreaks would be the seventh most costly homeowner loss […]