Tropical Cyclone Alfred, the seventh named storm in the Australian cyclone season, is expected to drive economic and insured losses in the hundreds of millions of Australian dollars at least, according to insurance and reinsurance broker Aon.Cyclone Alfred made landfall near Brisbane on March 7th, but after a slow approach to land it had caused … Read more
NORTHBROOK, Ill., February 20, 2025 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of January of $1.08 billion or $849 million, after-tax. Catastrophe losses included three events with approximately $1.07 billion related to the California wildfires. The California wildfire event estimate includes reinsurance reinstatement premiums, an estimated California FAIR Plan assessment and is net of estimated … Read more
The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses and damages, credit ratings—and lately worrying outlooks for the effect of the fires on insurance rates. Tens of thousands of properties will be ultimately lost when final counts come in, … Read more
Catastrophe risk modelling specialist Karen Clark & Company (KCC) estimates that the insured loss (from privately insured and FAIR plan policies) to residential, commercial, and industrial properties, and autos from both the Palisades and Eaton wildfires in Los Angeles will sit close to $28 billion.KCC becomes the latest risk modeller to release an initial estimate … Read more
Mercury General Corporation, one insurance company with meaningful exposure to claims from the Los Angeles, California wildfires, has said today that it has not yet determined whether it will consider the fires as two separate events under its reinsurance arrangements.Previously, Mercury had explained that it expected the California wildfires would result in losses for the … Read more
