-
Plus all the highlights from the Reconnect conference and the week’s top news.
-
Ongoing high claims from risks such as winter storm, wildfire or convective storm are playing into the climate-change debate over whether and to what extent cat reinsurers are mispricing their business.
-
The updated loss estimates come on top of the $14bn to $19bn industry loss range the analytics firm provided last week.
-
The quake caused building damage and downed power lines, leaving at least one person dead.
-
The reinsurer warns that climate risks could increase average weather-related property cat losses in advanced markets by more than 60%.
-
Plus the latest senior executive moves and all the top news from the week.
-
The modeller excluded precipitation-induced flood losses from its estimate, which comes in above the $18bn from KCC.
-
The majority of those canvassed by Insurance Insider said their gut feel was Ida would represent “another Hurricane Laura but slightly worse”.
-
Casinos and ski resorts have shut down, and hotels are housing firefighters in usually buzzing holiday destinations near South Lake Tahoe, California.
-
The Caldor Fire, which is 18% contained, has been active for 17 days and in that time destroyed 675 structures and damaged 40.
-
The estimate includes damage to residential, commercial and industrial property and vehicles.
-
The storm could bring losses of $20bn-$25bn in losses across property cat, D&F, binders and energy.