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Australia fires destroy over 500 homes, catastrophic weather alerts issued

Bush fires continue to burn across Australia and the mainstream media is now reporting over 500 homes destroyed in the recent outbreaks, while further warnings of catastrophic fire weather have been made as temperatures soar.Hundreds of wildfires have been burning across eastern and southern Australia over the last fortnight, threatening read the full article →

Catastrophic fire situation forecast for Sydney NSW region of Australia

As bush fires burn out of control in New South Wales and Queensland, Australia, the weather forecast authorities have raised the first ever warning of "catastrophic" bush fire conditions for the Sydney surroundings on Tuesday.Close to 200 homes have already been destroyed by wildfires raging across the region, with more read the full article →

California wildfire activity continues, but Kincade better contained

Updated Fri Nov 1st, 9:00am GMT to reflect latest property figures: California's wildfires continued to burn overnight, with a number of new smaller blazes breaking out and now upwards of 400 structures destroyed, while firefighters made progress in containing the largest Kincade fire.As of Thursday evening local time, the Kincade read the full article →

California fires burn more structures, “extreme fire weather threat” persists

California wildfires have continued to burn their way through more acres and properties, with the largest Kincade fire still the most dangerous and an "extreme fire weather threat" forecast for the coming days.As we explained yesterday, analysis from Enki Research suggests that $25 billion of property in California has been read the full article →

California wildfire damage potential said $25bn. Spread continues, fire weather forecast worsens

Our latest wildfire update can be found here. California continues to be beset by dangerous fire weather conditions, with some of the strongest winds yet possible from Tuesday into Thursday, while the current wildfires are estimated to have put some $25 billion of property at severe risk of damage already.In read the full article →

California’s Kincade wildfire spreads & threatens almost 80,000 structures

Update: Our latest on the current wildfire outbreaks can be found here. Dangerous fire weather conditions are forecast to continue over the coming days, which threatens to help the growing Kincade wildfire expand even further and has caused the evacuation of close to 180,000 residents.Dangerous wildfire weather conditions including particularly read the full article →

Kincade wildfire in California spreads to 16,000 acres, structures destroyed

Update: Our latest on the current wildfire outbreaks can be found here. The Kincade wildfire has been burning out of control in an area of California's Sonoma county around 70 miles north of San Francisco and as of the latest update the fire had spread to more than 16,000 acres read the full article →

PG&E’s wildfire subrogation settlement may benefit some ILS funds

The recent announcement from Pacific Gas and Electricity (PG&E) of an insurance subrogation settlement totalling $11 billion may eventually provide some benefit to ILS funds that were exposed to losses from certain 2017 and 2018 California wildfire events.PG&E's equipment and infrastructure has been deemed liable for a number of the read the full article →

Nationwide makes another $8.85m recovery from Caelus Re V cat bond

U.S. primary insurer Nationwide Mutual Insurance Company has taken another loss payment from one of its catastrophe bonds as its reinsurance recoveries under the Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes continue.Nationwide began making reinsurance recoveries under this catastrophe bond back in July, once the impacts read the full article →

Nationwide’s Caelus Re V cat bond recoveries continue, near $25m

Reinsurance recoveries from one of its catastrophe bonds have continued for U.S. primary insurer Nationwide Mutual Insurance Company, which has now recovered almost $25 million in loss payments from its Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes.These recoveries began back in July, as the impacts of read the full article →