Losses
-
A high proportion of the more than $3.5bn economic losses caused by April severe weather will be insured, the broker said.
-
Most damage to private and commercial property was covered, but agriculture losses were uninsured.
-
The catastrophe modeller made the estimate using a new climate change risk model.
-
The firm reported an industry-wide loss of $36.8bn caused by the pandemic, up from $29.5bn in Q3.
-
The initial loss figure was A$1.23bn, with a second report putting the loss at around A$1.3bn.
-
The hurricane made landfall in Alabama on 16 September 2021 and swept through a number of southern states.
-
The Earthquake Commission paid eye-watering increases in the years following the events.
-
Covid-19 losses remained stable as the insurer said rate rises should endure.
-
The February Deep Freeze has already pushed cedants to access reinsurance, adding fuel for rate rises later this year.
-
The insurer has benefited from recoveries from its captive after reworking its reinsurance treaty with the unit.
-
The Floridian insurer expects net current quarter “other weather” losses to make up $16.1mn of the claims tally.
-
Property losses make up 96% of claims.