Losses

Ransomware 2024: A year of tricks, traps, wins and losses – Go Health Pro

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Ransomware 2024: A year of tricks, traps, wins and losses – Go Health Pro

Ransomware criminals in 2024 stooped to new lows and high-level black hat trade craft. Targets included critical industries such as healthcare, public infrastructure, and the cloud. Notable was the rise of ransomware-as-a-service (RaaS), allowing a new class of rookie attackers to perpetrate devastating campaigns. Meanwhile nation-state actors transformed ransomware into a tool for geopolitical weapon. … Read more

New York Considers Making Property Insurers Cover Taxi Claims Losses – Go Health Pro

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New York Considers Making Property Insurers Cover Taxi Claims Losses – Go Health Pro

New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several options under discussion as the state’s Department of Financial Services — which regulates insurers — grapples with mounting financial troubles at … Read more

Allstate puts Milton loss at $102m, suggesting cat bond at-risk. YTD pre-tax losses hit $4.84bn – Go Health Pro

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Allstate puts Milton loss at 2m, suggesting cat bond at-risk. YTD pre-tax losses hit .84bn – Go Health Pro

US insurer Allstate has confirmed its pre-tax loss from hurricane Milton at $102 million, at which level it seems possible the Sanders Re II Ltd. (Series 2024-2) catastrophe bond may face a loss, while the companies year-to-date pre-tax catastrophe losses have reached $4.84 billion after October.Previously, Allstate had reported an initial estimate for its hurricane … Read more

Allstate Announces October 2024 Catastrophe Losses – Go Health Pro

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Allstate Announces October 2024 Catastrophe Losses – Go Health Pro

NORTHBROOK, Ill., November 21, 2024 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of October of $286 million or $226 million, after-tax, including $102 million, pre-tax, from Hurricane Milton and unfavorable reserve reestimates of $144 million, pre-tax, related to Hurricane Helene, primarily in Georgia, South Carolina and North Carolina. … Read more

FHCF losses for Helene & Milton seen $1.6bn – $6.2bn, point estimate of $4.6bn – Go Health Pro

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FHCF losses for Helene & Milton seen .6bn – .2bn, point estimate of .6bn – Go Health Pro

According to the administrators of the Florida Hurricane Catastrophe Fund (FHCF), losses to the fund that provides a reinsurance-like reimbursement for a portion of residential property insurers’ hurricane losses from recent hurricanes Helene and Milton are expected to fall between $1.6 billion and as much as $6.2 billion.Paragon Strategic Solutions, the FHCF’s consulting actuary, puts … Read more

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