You searched for homeowners - Page 79 of 83

Palomar Specialty expands U.S. Flex Choice earthquake product

21st November 2017

Palomar Specialty has expanded its innovative Flex Choice residential earthquake product that allows customisation of residential earthquake cover to specific needs into Arkansas, Tennessee, Kentucky, Illinois, Indiana, and Utah. Flex Choice offers a variety of coverage alternatives and deductible options for homeowners and is distributed through independent agents and wholesale brokers. "Palomar ... Read the full article

Milliman to design new flood risk rating plan for NFIP

16th November 2017

The Federal Emergency Management Agency (FEMA) has selected flood risk innovator Milliman to design a new rating plan for National Flood Insurance Programme (NFIP) policies nationwide. The U.S. government programme to provide homeowners with flood insurance, NFIP, has recently been reauthorised and is undergoing reforms after it was hit with an ... Read the full article

RMS puts wine country wildfire losses at up to $8 billion

30th October 2017

RMS has provided an updated economic and insured loss estimate for damages caused by wildfires across the Sonoma, Napa, Solano, Lake, and Mendocino counties of California, of between $6 billion and $8 billion. The estimate includes losses due to property damage, contents and business interruption as a result of fires to ... Read the full article

AIR puts California wildfires insured loss at up to $3 billion

27th October 2017

Global catastrophe risk modeller, AIR Worldwide, has provided an insurance industry loss estimate for the California wildfires, of between $2 billion and $3 billion. The fires started in early October, 2017, and AIR's estimate includes insured losses from the Tubbs, Pocket, Nuns, Atlas, Redwood, and Sulphur fires in California, and includes damages ... Read the full article

California wildfires threaten a $4.6 billion+ industry loss: Moody’s

17th October 2017

Rating agency Moody's expects the recent California wildfires to be among the costliest on record for U.S. P&C insurers, with losses running into a credit negative close to $4.6 billion based on historical events and the number of structures damaged. "Assuming CAL FIRE’s estimate of 5,700 structures destroyed and an average ... Read the full article

Hiscox Re and ILS looks to narrow flood protection gap with FloodXtra

17th October 2017

In an effort to address the flood protection gap (disparity between economic and insured losses post-event), Hiscox Re and ILS has launched FloodXtra, a new solution for U.S. personal lines flood insurers. The flood protection gap in the U.S. was highlighted recently by hurricanes Harvey and Irma, a reminder to the ... Read the full article

U.S. commercial and personal lines up in the third-quarter: MarketScout

10th October 2017

Analysis from MarketScout reveals that U.S. commercial lines and U.S. personal lines both saw average rate increases during the third-quarter of 2017, maintaining recent trends. During the third-quarter of 2017 the composite rate for U.S. commercial lines increased by an average of 1%, which is in line with the previous quarter ... Read the full article

TigerRisk & Cape Analytics partner to assist Hurricane Irma claims processing

3rd October 2017

TigerRisk Partners, the reinsurance and capital advisory, and Cape Analytics, a property data and analytics company, have partnered to provide proprietary before-and-after aerial imagery to speed up the processing of insurer's Hurricane Irma Claims. Hurricanes Harvey and Irma left many U.S. insurers with limited access to the claims adjustment resources needed ... Read the full article

Conifer Holdings & Swiss Re enter into reserve development reinsurance agreement

3rd October 2017

Conifer Holdings, Inc. has signed a new adverse reserve development reinsurance agreement with global reinsurer Swiss Re, as well as implementing some other strategic initiatives in an effort to boost its financial position. The agreement with Swiss Re is effective September 28th, 2017, and provides Conifer with up to $17.5 million ... Read the full article

Insured losses from August Canada floods reach $124 million

28th September 2017

Late August flooding in Canada's Windsor region has caused more than $124 million in insured damage, according to the Insurance Bureau of Canada (IBC). Rains of up to 290 millimetres brought major flooding to Windsor, Tecumseh, and other parts of Essex County. The Windsor Airport broke a rainfall record, receiving 100 millimetres ... Read the full article

No rating weakening for hurricane Irma exposed firms: Fitch Ratings

22nd September 2017

Hurricane Irma insured losses are estimated to amount to $25 - $50 billion, causing near-term earnings reduction for exposed firms but no expected rating weakening, according to Fitch Ratings. The rating agency said that while carriers remain well-capitalised with sufficient balance sheets to handle claims from Irma and Harvey, capacity could ... Read the full article

Allstate reveals $576m Hurricane Harvey loss

21st September 2017

Allstate has reported estimated gross catastrophe losses, excluding homeowners flood, for hurricane Harvey of pretax $576 million, $23 million of which is expected to be recovered from reinsurance agreements. About 55% of the firm's Harvey losses are related to auto cover. $53 million of losses and expenses are expected from commercial insurance, ... Read the full article

Hiscox’s Harvey loss could read-through to others on E&S & flood

19th September 2017

The size of the hurricane Harvey loss estimate that Hiscox pre-announced yesterday could have a negative read-through for the commercial excess & surplus lines insurance underwriters, according to analysts at Credit Suisse. Hiscox pre-announced a loss of around $150 million from hurricane Harvey's impacts on Texas, with the company saying ... Read the full article

Reinsurance to pick up HCI’s $100-300m hurricane Irma tab

18th September 2017

As one of the leading providers of homeowners insurance in Florida, HCI said its expecting Hurricane Irma related losses in the U.S. $100 - 300 million range, most of which will be covered by the carriers' reinsurance and retrospective provisions. With a retention level set at $16 million, the insured losses will ... Read the full article

ICT estimates Hurricane Harvey insured losses at $19 billion

18th September 2017

The Insurance Council of Texas (ICT) has placed Hurricane Harvey insured losses at $19 billion, $11 billion of which is expected to be paid out by the NFIP flood insurance, making the hurricane the second highest on record for flood damage after hurricane Katrina. “The number of uninsured homeowners who felt ... Read the full article