-
The Australian insurer has denied liability for Greensill’s insurance claims, which are expected to take several years to resolve in court in New South Wales. -
"Finally we feel things are moving forward," says West Kelowna fire chief Jason Brolund.
-
Data from the NHC shows that maximum sustained winds are near 65mph, with higher gusts.
-
However minor an irritant these losses are for global carriers, their impact is likely to have an outsized influence on the narrative heading into the 1 January renewals.
-
Earlier this afternoon, San Diego County issued a tropical storm warning related to Hilary – the first in its history.
-
Severe convective storms caused strong winds, large hail and flash flooding in parts of the US and Canada between August 10 and August 15.
-
The Cat-4 storm is likely to weaken as it approaches the California coast.
-
The development in reconstruction costs and contingent BI claims may put the ultimate sum beyond current estimates.
-
The loss is composed of personal lines property losses, representing 54% of the loss, and commercial lines property losses, which represent 46% of the total industry loss.
-
The latest estimates peg the fires as the second largest loss event in the state’s history, second only to Hurricane Iniki in 1992.
-
Most forecasters now predict above-average storm activity for the Atlantic as a result of record-high sea-surface temperatures.
-
Primary writers of homeowners and commercial property are exposed, while reinsurers could face wildfire losses.
