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
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
The P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
The past year and half have seen major changes in the global Reinsurance Property Catastrophe (CAT) market
Re/Insurers poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year’s North Atlantic hurricane season
A swath of natural catastrophes and the Russia-Ukraine war made 2022-2024 a tough years for some managing agents at Lloyd’s of London
Political Violence (Re)Insurance Risks are escalating as the world navigates a succession of crises. Economic and geopolitical shocks have dominated agendas
Policyholders should contact their insurer to obtain the assistance they need. Many claims-filing services are available via either a mobile app or online
Property reinsurance rates rose significantly at the renewals. The losses from Hurricane Ian last year were a contributory factor
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
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance, the fourth highest one-year total
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance
The US P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
2024 will be a difficult year for the US P&C industry: claims severities surged with inflation, natural catastrophe losses were elevated for a sixth straight year
Climate change is taking an increasing toll. The natural disaster figures are dominated by events that are more intense or are occurring more frequently
The world saw another year of impactful natural catastrophe events that once again emphasized the need to better account for the growing risks that hazards bring
Global natural disasters resulted in near-average economic losses totaling $313 bn. Half of losses occurred in the United States and were driven by Hurricane Ian
2022 is the second consecutive year in which the estimated insured losses total more than USD 100 billion
Weather-related Events drove economic losses of $65 bn, which is down on last year’s $105 bn, with insured losses staying roughly the same at approximately $34 bn