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Insured losses from U.S. ‘Polar Vortex’ exceed $1.5 billion

Estimates of insurance industry losses caused by the U.S. winter storm known as the 'Polar Vortex', which impacted much of the country from January 5th to the 8th 2014, already exceed $1.5 billion according to Property Claim Services (PCS).The weather phenomenon known as the polar vortex, where the position of read the full article →

UK flood losses unlikely to hit insurer ratings: S&P

Ratings agency Standard & Poor's said today that, at the current levels of insurance industry loss estimate, the financial impact of recent UK floods appears unlikely to result in any insurer rating downgrades.S&P said that UK non-life insurers are likely safe from any negative rating action currently. It cites estimates read the full article →

Credit Suisse estimates UK flood insured loss at $2 billion, or higher

Insurance-linked securities (ILS) and reinsurance-linked investment manager Credit Suisse has issued an estimate for insured losses from the recent UK floods, saying that the insured loss from the UK flooding event could reach $2 billion or higher.The estimate was published in an update on Credit Suisse's CS Iris Low Volatility read the full article →

Euro windstorms, UK floods add up to meaningful insurance losses

The procession of severe European windstorms continues to impact the UK and northern Europe, while severe flooding across the UK and northern France worsens, with financial losses for the insurance and reinsurance industry now rising fast.The winter weather affecting northern Europe continues, with two more named European windstorms striking the read the full article →

U.S. winter storms to cause over $1.6 billion insured loss

Impact Forecasting, the catastrophe modelling arm of reinsurance broker Aon Benfield, has said that it expects the insured loss toll from January's severe spells of winter weather in the U.S. will be over $1.6 billion.A series of severe winter storms struck the U.S. during January, bringing freezing temperatures, heavy snowfall read the full article →

U.S. winter storm losses build. What about catastrophe bonds?

Winter storms are a covered peril in a number of outstanding catastrophe bond transactions currently. With the U.S. having suffered from a number of severe spells of winter weather in recent weeks, losses are mounting and some bonds may begin to look exposed.The United States has seen temperatures tumble and read the full article →

Losses mount in worst European winter storm season since 1990

The winter storm season in Europe looks set to add additional pressure to any insurers and reinsurers that are already feeling the pinch due to declining property catastrophe renewal rates, as losses from European windstorm and flooding start to mount.Both sides of the Atlantic are experiencing unusually severe winter storm read the full article →

Insured losses from U.S. winter storm could hit $1.4 billion

Insured losses to residential, commercial, industrial properties and their contents and to automobiles from the U.S. winter storm which struck on February 1st - 2nd could reach as much as $1.4 billion according to risk modelling firm AIR Worldwide. AIR estimated anything between $790m and $1.4 billion, we believe it's read the full article →

Aon Benfield sees new challenges from European winter storms

Aon Benfield has issued a briefing on uncommon European winter storm tracks derived from research with the University of Cologne. The briefing hints at a lower total number of events in the future but shows intense storms moving across the North and Baltic seas on a similar path to windstorm read the full article →

Recent winter storms in the U.S. highlight the need for weather risk cover

The U.S. has been suffering some of the biggest snowfalls on record and has suffered major losses to the orange crop in Florida. The UK has suffered snow, ice and much lower temperatures than normal causing much disruption. Some areas of Asia have had significantly lower temperatures and higher snow read the full article →