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There is a high likelihood the property claim will be subrogated.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The city alleges defendants knowingly allowed an “unseaworthy” Dali to set sail.
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As a result of mostly flooding, £474mn of losses occurred in the UK.
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Insurers in the emirate typically buy low-attaching reinsurance.
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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UK property insurers paid out £4.86bn in property claims last year.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
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Tropical Storm Risk (TSR) has updated its forecast for North Atlantic hurricane activity, predicting a "hyper-active season" in 2024, with activity being around 70% above the 1991-2020 climate norm.
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The Magnitude-7.4 earthquake occurred early on 3 April.
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Eleven hurricanes are predicted, with five expected to reach Category 3 or higher.
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Copenhagen Infrastructure Partner’s policy is subject to a sub-limit for hail damage.
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The owner and manager of the cargo ship Dali have filed suit to cap liability at $43.7mn.
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Tremors were felt as far north as capital city Taipei.
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The estimate is up from A$1.4bn, published by Perils in February.
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Several prior-year cat losses deteriorated during the quarter.
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CyberCube expects ransomware attack to impact both large and SME accounts.
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The complexity of the incident and US location point to one of the largest-ever marine losses.
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A Maersk-chartered container ship caused the Francis Scott Key Bridge to collapse.
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Severe convective storms were the biggest driver of last year’s losses.
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Underestimated average claim value has led to a dramatic February update.
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Exposures to property are growing materially in the riskier geographies.
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