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The company’s litigation was one of the most high-profile cases relating to Covid-19 business interruption. -
According to the reinsurer at least EUR275mn will be covered directly by CCR under public reinsurance.
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The carrier’s combined ratio deteriorated by 10.9 points to 101%.
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Perils estimated the loss at EU377mn six weeks after the event and at EUR488mn three months after.
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Google DeepMind developers recently said in a peer-reviewed paper that the model "marks a turning point in weather forecasting”.
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The number of disasters costing $1bn or more during the period is the highest on record.
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Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.
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The forecast reflects property damage and BI losses to residential, commercial, industrial and automobile lines.
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The estimate includes wind damage, as well as damage to property, automobiles, agriculture and direct BI.
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The worst of the damage was experienced in Brest, northwest France.
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Sources are now seeing estimates far in excess of Cresta’s $2.2bn October tally.
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Severe convective storms accounted for roughly 70% of global insured losses between January and September this year, compared to an average of 34%
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