A “statistically unusual” cyclone season and an unusually high level of natural catastrophes in Japan contributed to a higher-than-average total insured loss of $80bn in 2018, according to analysis by Munich Re.
The downstream energy market could be approaching a ‘Rubicon moment’ in 2019, as significant property damage (PD) and business interruption (BI) losses outstripped total premiums in 2018, according to JLT Specialty.
Catastrophe data specialist Perils has issued its final loss estimate for Storm Eleanor, the extratropical cyclone which was known as Burglind in Germany, at EUR756mn ($860mn).
Commercial buildings including at least nine hotels were among the structures destroyed, as fears of a second volcanic eruption mount.
After two years of heavy losses for IAG's reinsurers, the carrier warns that reinsurance will kick in for 2018 following hailstorm claims.
AIR Worldwide has estimated that the insured loss for the Marriott hotels data breach could be between $200mn and $600mn.
Swiss Re’s latest Sigma report has put the likely total for global insured catastrophe losses in 2018 at $79bn.
A fire that broke out at a warehouse belonging to US luxury retail store chain Macy’s in November is expected to be a $100mn loss to the cargo market.
Cyber insurers are reported to be anticipating a claim in the region of $300mn from a data breach revealed by the Marriott hotel chain in late November.
With losses from US wildfires set to exceed $10bn for the second consecutive year, the perception of the risk as a “secondary peril” is likely to change, according to Aon’s Impact Forecasting division.
As loss notifications for the California wildfires in November start to filter through, indications are that carriers’ exposures are tending towards the upper end of modelled estimates.
AIR Worldwide has issued an estimate for insured losses from the Camp Fire in Northern California in November of $6bn-$9bn, and updated its combined estimate for the Camp and Woolsey fires to $9bn-$13bn, in line with a previous estimate from rival modelling firm RMS.
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