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U.S. winter storms & severe weather to drive $2bn March insured loss: Aon

Winter storms and severe weather in March across the United States is likely to drive around $3 billion in economic losses, with two-thirds likely to fall to insurance and reinsurance, translating to an industry loss of roughly $2 billion for the month, according to Impact Forecasting.The catastrophe risk modelling unit read the full article →

U.S. winter storm to be a “multi-billion-dollar” weather event: Aon

The severe winter storm and historic blizzard that struck the U.S. east this weekend is expected to be the first weather event of 2016 to result in an economic loss of over $1 billion, and is likely to be a multi-billion dollar event, according to Impact Forecasting.The catastrophe risk modelling read the full article →

Winter storm Jonas to bring blizzards, high winds, coastal floods to U.S.

Winter storm Jonas, the first severe such storm of the year, will strike the U.S. in the coming days, with impacts expected from the mid-South and Ohio Valley to the East Coast. Many metropolitan areas will see heavy snowfalls, high winds and there is the potential for coastal storm tide read the full article →

Re/insurers to pick up $2.3B of 2014/15 U.S. winter storm losses

Following the intense, cold winter 2014/2015 in the U.S., estimations have put the resulting industry-wide insured loss figure at $2.3 billion, a $200 million decrease on the 2013/2014 season, according to Munich Re and Property Claim Services (PCS).The initial estimations provided by reinsurance firm Munich Re’s NatCatSERVICE and PCS include the read the full article →

Minimum $1B insured loss from U.S. winter weather in February: Aon

Reinsurance broker Aon Benfield's catastrophe modelling unit Impact Forecasting said that early estimates suggest aggregated economic losses from February's winter storms in the U.S. will be in the low-digit billions of dollars, while insured losses are likely to exceed $1 billion.Steve Bowen, Impact Forecasting senior scientist and meteorologist, commented; "Prolific read the full article →

U.S. winter storm insured losses set to rise: Aon. What about cat bonds?

Insurance and reinsurance broker Aon's catastrophe risk modelling unit Impact Forecasting said that insured losses from the recent U.S. winter storms should be expected to be above average, however it is too early to provide any certainty on the impact to reinsurance programmes or even cat bonds.In its latest weekly read the full article →

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 →

U.S. winter storm losses growing. Cat bonds likely safe, for now

U.S. insured catastrophe losses from winter storms in 2014 are likely to reach $2.5 billion plus by year’s end, which would be the fourth costliest year for winter storm losses on record, so could trouble some reinsurance contracts, but not cat bonds yet.From January 5th to January 8th of 2014 read the full article →

UK insurer losses from winter floods and storms rise to £1.1 billion

The UK insurance industry is facing losses of £1.1 billion from this winters severe weather which saw strong European windstorms and heavy rainfall cause widespread damage and trigger devastating floods across the UK according to the ABI.The Association of British Insurers (ABI) said that the UK has suffered its wettest read the full article →

Japan snowstorms take February insured catastrophe losses over $1 billion

The record snowfall which affected Japan during the month of February is expected to be largest insurance industry loss event of the month and led total insured catastrophe losses for the month of February 2014 over $1 billion, according to Impact Forecasting.Impact Forecasting, the catastrophe risk modelling unit of global read the full article →