Property
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KCC puts US wildfire losses at $28bn
Catastrophe risk modelling company Karen Clark & Co (KCC) estimates that insured losses from the Los Angeles wildfires will reach…
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Parametric cover launched for US solar farms hit by tornados
Descartes Underwriting has launched an advanced parametric insurance product to protect utility-scale solar farms in the US against tornado damage.…
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LA wildfires set to cost Europe’s top reinsurers 30% of nat cat budget
Insured losses from the ongoing wildfires in Los Angeles could cost Europe’s largest reinsurers more than 30% of their natural…
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Verisk estimates LA Palisades and Eaton fire losses of up to $35bn
Verisk forecasts that insured losses from property damage suffered in the Californian Palisades and Eaton fires will fall between $28bn…
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LA smoke damage claims may prompt coverage questions
Smoke damage from the Los Angeles wildfires will increase uncertainty about the size of insured losses and may spark coverage…
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US renewal rate increases, decreases mixed in Q4: Ivans
Renewal rates in US commercial auto, business owners policy and umbrella liability increased in the fourth quarter of 2024, compared…
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Moody’s puts wildfire losses between $20bn and $30bn
Moody’s estimates that insured losses from the Los Angeles wildfires will range between $20bn and $30bn. The figure includes losses…
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Descartes partners with Previsico for flood forecasts and parametric triggers
Corporate parametric insurer Descartes has partnered with flood forecasting specialist Previsico to offer companies in the UK and Ireland more…
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LA wildfires now projected to cause up to $45bn of insured losses
The Eaton and Pacific Palisades fires in Los Angeles will likely cause between $35bn and $45bn in insured losses, according…
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Reinsurance rates fall for loss-free accounts as supply-demand shifts
The end-of-year reinsurance renewals were broadly down globally as expanded capital coupled with an increased appetite to take on risk…
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Record California wildfire loss estimates reach $30bn
The wildfire engulfing the Los Angeles area will result in insured losses that materially exceed highs from past wildfire events…
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California wildfire loss estimates up to $20bn
Insured loss estimates from the escalating Los Angeles wildfires are rising, with figures of $20bn now being put forward. Analysts…
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Europe’s 1/1 property renewals soften, but rates spike for cat-hit regions
Rates for loss-affected European property hardened at 1 Jan renewals, bucking the overall trend for softer rates, agreed brokers following…
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Last year third-most expensive for nat cat insured losses, says Munich Re
Last year was a loss-heavy one for the insurance market, with natural disasters causing insured losses of $140bn, compared to…
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Amrae wants changes to nat cat regime and the CSDDD
French risk management association Amrae is kicking off 2025 with a focus on climate risks and the growing regulatory burden…
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McGill launches war risk reinsurance facility for commercial property in Ukraine
Global specialty broker McGill and Partners has launched a war risk reinsurance facility to help provide commercial property insurance in…
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GrECo acquires Comegron to expand into Greece and Cyprus
GrECo, the independent risk consultant and insurance broker in the CEE region, has bought a majority stake in Comergon, a…
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MGA iprism signs multi-year capacity deal with Zurich
Construction, property and high net worth MGA iprism has signed a new multi-year capacity deal with Zurich. The new deal…
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German insurers face €5.5bn nat cat bill for 2024: GDV
Insured losses for natural catastrophe losses in Germany totalled €5.5bn in 2024, €100m lower than 2023 but still well above…
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US wildfire losses could reach $10bn: J.P. Morgan
Insured losses from the wildfire that broke out 7 January that primarily impacted the residential neighbourhood of Pacific Palisades in…