Live Insurance News

Insurance news from Zurich shows a massive $700 million superstorm bill

December 18, 2012December 18, 2012 H. Cutner

The European insurer has released the figures relating to its claims from Sandy. Zurich has just released its latest insurance news by becoming the most recent insurer to have connected its figures to the damage caused by Hurricane Sandy, reporting that it is expecting that its net claims will reach approximately $700 million. These predictions are following closely on the heels of the figures release made by AIG. The numbers that were issued by AIG had forecasted that the storm would have generated post-tax net losses of approximately $1.3 billion.…

Flood insurance records show Sandy is third largest

November 5, 2012November 4, 2012 Julie Campbell

The Superstorm off the Atlantic is predicted to be less expensive than only Hurricanes Katrina and Ike. The damage caused by Superstorm Sandy is now predicted to be the third most expensive faced by the National Flood Insurance Program in the United States, and will have the largest amount of cost outside of the Gulf Coast region of the country. The states that were hardest hit include New York and New Jersey. According to Bloomberg Government’s BGOV Barometer, those two states are covered for nearly $100 million in flood insurance,…

Hurricane insurance predictions place losses from Isaac at up to $1.5 billion

September 7, 2012April 30, 2013

The storm brought severe wind and rains to many parts of several states. When Isaac made landfall and then passed through New Orleans, it left a swath of onshore damages that current estimates are predicting to bring hurricane insurance losses of between $500 million and $1.5 billion. This disaster modeling firm prediction applies to the losses in Louisiana alone. Though Isaac wasn’t one of the most damaging that the state – or the country – has seen, it still managed to wreak havoc to homeowners and businesses alike. It caused…

Insurance news looks to Asia where insurers are seeing a new land of opportunity

August 13, 2012April 30, 2013

Asian countries are receiving lots of attention from large coverage providers. Some of the largest insurers in North America are making insurance news as their set their sights on Asia and the potentially lucrative business for wealth management that is presenting itself there, as they make efforts to balance the losses that they have been experiencing in traditional markets as a result of interest rates that remain continually low. Common insurance news from the second quarter involved low earnings on many levels. Insurers’ earnings from Q2 were smashed down by…

Why are Washington homeowner’s paying higher premiums every year?

April 1, 2011April 1, 2011 H. Cutner

The Insurance Research Council has released a new study today, whose findings show that the cost of homeowners insurance in Washington has raised. The IRC study investigated the influence the Insurance Fair Conduct Act had on the market. The study compares the frequency of claims and trends in losses for Washington and four other states that have similar laws. Given the information, the study finds that the cost of insurance has gone up over two years, reaching the $190 million mark. “The facts are in and the bottom line is…