-
Covid-19 losses accounted for 60% of the major claims, with the rest attributable to catastrophe events.
-
The event will further erode the deductible in the group’s aggregate excess of loss reinsurance programme.
-
The loss is steering more towards a personal lines event, with loss notifications leading to more optimism amongst reinsurers.
-
Containership Ever Given is lodged in the waterway, and sources said that the largest impact is expected to be felt by the P&I market.
-
The tally so far comes in far below the broker’s year-ago estimate of $80bn for a twelve-month lockdown.
-
Uncertainty reigns over the scale of the loss, but the collapse has triggered market conversations on terms and conditions, rates and reform.
-
Heavy rains have caused the worst flooding in 60 years and resulted in mass evacuations.
-
Carriers have received around 11,700 claims so far, with disruption to activity at the coal export hub of Newcastle.
-
Munich Re anticipates claims expenditure from winter storm Uri in the triple-digit-million euro range.
-
Aon has said it expects the economic cost of physical damage and business interruption caused by the polar vortex-linked cold snap to “well exceed $10bn”, in an Impact Forecasting report released on Thursday.
-
Nat cat and extreme weather claims have become more frequent and severe with hail, heavy rain and wildfires leading to significant losses.
-
The carrier has admitted to errors in select cases but stressed that its $475mn loss figure remains unchanged.
