Lloyd's has suspended the release of first-half profits until it can accurately assess the financial impact of Harvey and Irma, the market's chief financial officer has said.
Industry insured losses for Hurricane Maria in the Caribbean will be between $40bn and $85bn, according to AIR Worldwide.
Managing general agents are popping up all over the place but capacity is coming under pressure. Chris Hardcastle, managing director of Capsicum Delegated Authority, asks if there is enough capacity to go round.
Hiscox anticipates the impact Hurricane Harvey to produce net claims of $150m (£110.6m).
A significant proportion of the flood losses generated by Hurricane Harvey in Texas and Louisiana will be uninsured, highlighting the existence of a global protection gap, Aon Benfield has said.
The global reinsurance sector is at an inflection point in how it is utilised by the humanitarian sector, according to Willis Towers Watson’s CEO of capital science and policy.
Industry veteran Stephen Catlin has called on the reinsurance and insurance sector to cooperate and work together in closing the protection gap.
A lack of understanding of insurance and prejudice against the sector is hampering progress in closing the protection gap said, Swiss Re’s CEO.
The active hurricane season is a timely reminder for underwriters to maintain discipline and adequate catastrophe loading on rates, Lloyd’s Jon Hancock has said.
The financial fallout from hurricanes Harvey and Irma will not be enough to turn the market, according to Lloyd’s performance director Jon Hancock.
Underinsured markets represent a major opportunity for Lloyd’s, the markets chief commercial officer has said.
Hurricane Harvey and Irma both highlight the problem of inadequate flood insurance and need for reform in the United States, Inga Beale has said.
The current catastrophe exposure of Lloyd’s has left the market vulnerable, Fitch Ratings has said.
Hurricane Irma could result in insured losses of $20bn to $65bn, according to a preliminary estimate from AIR Worldwide.
Hurricane Irma could see industry property losses of $131bn, according Lloyd's realistic disaster scenario analysis.
The risk landscape in renewable energy is constantly changing and underwriters need to exercise proper due diligence, argues Fraser McLachlan, CEO of Gcube Underwriting.
The expected cost of total uninsured and insured property losses in the US from Hurricane Harvey is likely to be between $65bn (£50bn) and $75bn according to catastrophe modeling firm AIR Worldwide.
The inaugural Claims Conference Sydney took place on 29 August. Chairman Andrew Tjaardstra summarises four key themes from the event.
Florida governor Rick Scott has declared a state of emergency for every county in the state as powerful storm Hurricane Irma approaches.
Crawford and Company has deployed more than 200 adjusters in Southern Texas to assess the damage caused by Hurricane Harvey. One of them, James Warren, whose own home has been damaged, describes the streets as eerie as there is no power, no road signs,…
Hurricane Harvey is unlikely to trigger ratings downgrades for property and casualty insurers and reinsurers, said Fitch Ratings.
Hurricane Harvey could be the most expensive natural disaster in American history, costing the US economy $190bn, according to AccuWeather.
Hurricane Harvey’s deluge of wind and rain across Houston and the Texas Gulf Coast hurt the shares of London Market property and casualty insurers on Tuesday as analysts peg insured losses as high as $20bn (£15.5bn).
Insured losses resulting from Hurricane Harvey’s winds and storm surge could range from $1.2bn (£0.93bn) to $2.3bn (£1.78bn), according to AIR Worldwide.