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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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The US tallies $97bn in economic losses from major perils each year.
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The event occurred a fortnight after major North Island flooding in New Zealand.
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There were 10 fatalities, mostly due to drowning or tree fall accidents.
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The carriers were in arbitration with UnipolRe and Gen Re.
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A so-called atmospheric river effect is behind the severe weather.
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The figure represents a 26% increase on the previous estimate.
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Most of the losses occurred in France, followed by the UK and Belgium.
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The insurer says Greensill's claim "arises out of a fraudulent scheme”.
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The talks must be completed by 28 June to avoid a trial.
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The final estimate is a 12% increase on an August tally of NZ$1.99bn.
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The increase can be attributed to the Christmas storms of 2023.
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The court gave a mixed ruling on subjects including coverage, aggregation and furlough.
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Storm Ciarán incurred insured losses of EUR1.9bn, according to WTW’s natural catastrophe report for July to December.
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The broker’s latest climate report tallied global insured cat losses at $118bn.
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As a result of mostly flooding, £467mn of losses occurred in the UK.
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The source of the funding is one of the most problematic elements for sources who spoke with this publication following the draft bill’s release on Friday.
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Unfavorable prior year reserve re-estimates, excluding catastrophes, totaled $199mn in Q4, with approximately $148mn related to personal auto, including costs for litigation claims.
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An escalation of conflict at the end of last week is expected to put significant upwards pressure on marine war rates.
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More than three-quarters of the losses came from the firm’s UK&I line of business.
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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report.
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The loss estimate includes property damage, contents and BI insurance across residential, commercial and industrial lines.
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The 737 Max fleet was previously grounded in 2019 following the fatal crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302, when Boeing had a $500mn sub-limit on such claims.
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The scale of the claim is expected to be just within the expected total weather losses for insurers.
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The figure does not include losses from the likes of infrastructure, automobiles and business interruption.
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