Average insured loss per storm exceeds $1bn Related Stories Daily Digest: London D&F market under pressure, P&I pool claims increase, Moody’s tallies SCS losses Gallagher Re chairman Paddy Jago to retire European insurers face 'partly cloudy' outlook
Moody’s tallies $42bn in US severe convective storm losses so far this year Read More »
The Caribbean parametric insurer, CCRIF SPC, announced it will make a second payout of US$21.1 million to the government of Jamaica – a policy triggered by excess rainfall from Hurricane Melissa. This payout follows the CCRIF’s first record payment of US$70.8 million to Jamaica to cover damages from Hurricane Melissa triggered by modeled losses from
Jamaica to Get 2nd Parametric Insurance Payout for Excess Rainfall From Storm Melissa Read More »
The Gulf Coast has avoided any major tropical storms so far this hurricane season, but the Gulf’s luck could soon change, AccuWeather hurricane experts say. Water temperatures in the Gulf are exceptionally warm, creating conditions for rapid intensification of storms. AccuWeather predicts heightened danger of tropical storms or developing in the region by mid-September. The
Warm Gulf Water Could Fuel Storm Intensification in September Read More »
Crews cleaned up downed trees and got electricity mostly restored for thousands of people this week after a powerful dust storm roared through the Phoenix area. The wall of dust towering hundreds of feet high dwarfed the city’s neighborhoods. Called a haboob, the wind-driven phenomenon blackened skies and initially knocked out electricity for 55,000 customers
After Fearsome Dust Storm Rips Phoenix Area, Trees Cleaned up And Power Restored Read More »
When Hurricane Katrina made landfall in southern Louisiana 20 years ago, the region was ill-prepared for the 125 mph winds and catastrophic flooding that would follow. Louisiana, like the rest of the United States, was still adopting modern international building codes, which had just gone into effect a few years prior. “The good wind protections
Louisiana Fortifies Itself Against the Next Storm Read More »