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Early Estimates Put Idalia’s Insured Losses at $3-9 Billion for Florida
Aug 31 2023 // Preliminary estimates of insured losses from Hurricane Idalia have already begun, with about $9 billion in losses predicted for Florida alone. The estimates are far lower than some in Florida had feared and well below the...
KCC Estimates Storm Hilary Caused Nearly $600M in Insured Losses
Aug 28 2023 // Catastrophe modeler Karen Clark & Co. said privately insured losses in the U.S. from Hurricane Hilary will be near $600 million. Once a Category 4 storm, Hurricane Hilary weakened to a tropical storm before it made...
Moody’s RMS Estimates $4B to $6B in Economic Losses from Hawaii Wildfires
Aug 22 2023 // Moody’s RMS issued estimates on Tuesday showing economic losses from the recent Lahaina Conflagration and Kula wildfires in Hawaii at $4 billion to $6 billion. The loss estimate reflects property damage, contents,...
Insured Losses From Natural Catastrophes Set to Top $100 Billion for 3rd Year in a Row
Aug 22 2023 // Claims for weather-related incidents are set to exceed $100 billion for the third year in a row, as floods, hail and wildfires linked to climate change become more frequent. Munich Re has put the total global insured costs...
Conditions Are Challenging, Claims Are Elevated, but Reinsurers’ Profits Return: Reports
Aug 22 2023 // Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report. “Reinsurers generally...
Tropical Storm Hilary Damage and Economic Loss Estimate in Western U.S. is $7B to $9B
Aug 21 2023 // AccuWeather’s preliminary estimate of the total damage and economic loss from Tropical Storm Hilary in the U.S. is $7 to $9 billion. Hilary brought widespread flooding through Southern California, washing out roads...
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