Insured Losses from Convective Storms in the U.S. exceedes $50 bn
The U.S. is experiencing its costliest year ever in 2023 for severe convective storms, with insured losses from these events exceeding $50 bn
Hurricane Ian
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Hurricane Ian was a deadly and extremely destructive Category 5 Atlantic hurricane, which was the third-costliest weather disaster on record, the deadliest hurricane to strike the state of Florida since the 1935 Labor Day hurricane, and the strongest hurricane to make landfall in Florida since Michael in 2018.
Ian caused widespread damage across western Cuba, Florida, and the Carolinas. Ian was the ninth named storm, fourth hurricane, and second major hurricane of the 2022 Atlantic hurricane season. Ian was the first Category 5 hurricane in the Atlantic since Lorenzo in 2019, and the fifth since 2016 to reach that strength before making landfall in the contiguous United States.
Ian originated from a tropical wave that moved off the coast of Western Africa and across the central tropical Atlantic towards the Windward Islands. The wave moved into the Caribbean Sea on September 21 bringing heavy rain and gusty winds to Trinidad and Tobago, the ABC islands, and the northern coast of South America.
Florida Hurricane Catastrophe Fund’s Losses & Insurance Claims Outlook
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
ILS, Cat Bond & Post Hurricane Ian Reinsurance Market Update Q1 2023
The property catastrophe bond market supported new and repeat insurance, reinsurance and government sponsors
Natural Catastrophes Drivers. 6 Main Lessons for Insurance Industry
The natural disasters demonstrate that economic factors, in the last two years augmented by inflation, are the main driver of elevated insured losses from natural catastrophes
Global Insured & Economic Losses from Natural Catastrophes Outlook
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance
How ILS Can Support Additional Re/Insurance Capacity for Cyber Risk
ILS plays a key role in allowing catastrophe risk to be transferred from the commercial insurance market to investors, providing additional (re)insurance capacity
Worst Natural Disasters. Global Natural Catastrophe Review
Climate change is taking an increasing toll. The natural disaster figures for 2022 are dominated by events that are more intense or are occurring more frequently
