Latest insurance losses news
Spiralling social inflation echoes medmal crisis: Rob Berkley
Social inflation has come under sustained focus in recent months amid a sudden rise in jury awards.
California insurers agree to extend wildfire victims’ living allowance
Two-third of California carriers, including Farmers, Travelers, and State Farm, have agreed to the extension relating to the 2017 blazes.
United reveals $46mn Q3 cat loss projection
The losses relate largely to Hurricane Dorian and tropical storms Barry and Imelda.
Analysts: AIG better covered for 2019 typhoon claims
AIG is likely to have exhausted its $550mn Japanese reinsurance cover after typhoons Faxai and Hagibis.
RenRe pegs pre-tax Q3 cat losses at $155mn
The reinsurer expects to take a $100mn charge from Faxai and assume $55mn of Dorian liabilities.
Everest Re Q3 pre-tax cat loss estimate lands at $280mn
Dorian is estimated to have caused $160mn in claims for NYSE-listed (re)insurer.
Hagibis estimated to have damaged more structures than Faxai: Aon
Around two thirds of the possible half-million affected structures sustained windstorm damage, the broker estimates.
Hurricane Michael claims likely to top $7bn: Floir
Carriers have so far paid out for $6.7bn of losses from the natural disaster.