Sentences with phrase «catastrophe losses»
"Catastrophe losses" refers to significant financial damages that occur as a result of large-scale natural disasters or extreme events such as hurricanes, earthquakes, floods, or fires. These losses can include damage to property, infrastructure, or businesses, as well as costs associated with recovery and rebuilding efforts. Full definition
Nearly $ 9.7 billion of damage was uncovered, and Colorado was the second highest state in losses, with $ 1.702 billion in insured catastrophe losses in 2014, forcing property owners to pay for repairs and rebuilding costs out of pocket.
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Winter Storms are Third Largest Cause of Catastrophe Losses, behind Hurricanes and Tornadoes; Is Your Home Prepared?
Property and casualty insurers endured a challenging 2017 with continued competitive market fundamentals and sharp increases in natural catastrophe losses.
Colorado was the second highest state, with $ 1.702 billion in insured catastrophe losses in 2014.
Results increased primarily from lower catastrophe losses, a favorable change in loss and LAE reserve development and strong nonstandard personal auto growth and profitability.
There were no significant catastrophe losses in 2014.
This has since been done, and the conclusions are surprising: «We find insufficient evidence to claim a statistical relationship between global temperature increase and normalized catastrophe losses,» read the report published in the compendium «Climate Extremes and Society.»
Factors that have led to increases in homeowners premiums in the past few years include rising home values, higher repair and rebuilding costs, and larger than average catastrophe losses in hurricane - prone areas.
Travelers Reports First Quarter Net Income and Core Income per Diluted Share of $ 2.42 and $ 2.46, Respectively, Up 12 % and 14 %, Which Includes Catastrophe Losses of $ 1.01 per Diluted Share
Travelers, which is seen as a bellwether for the insurance sector, said catastrophe losses, net of reinsurance, widened 2 percent to $ 354 million in the first quarter.
It estimated losses of about $ 1 billion each from Harvey and Irma, up to $ 700 million from Maria and additional catastrophe losses, including earthquakes in Mexico, of about $ 150 million.
American International Group said Monday it expects to book pretax catastrophe losses of about $ 3 billion in the third quarter mainly related to hurricanes Harvey, Irma and Maria.
Kemper believes the underlying combined ratio is useful to investors and is used by management to reveal the trends in Kemper's property and casualty insurance businesses that may be obscured by catastrophe losses and prior - year reserve development.
«We define pre-tax catastrophe losses in excess of $ 100 million from a single event or series of related events as significant.
«Figure moved to Supplementary Figure and employed a different plot that smoothes catastrophe losses and shows these alongside temperature.
«Man - made climate change will bring us increasingly extreme natural events and consequently increasingly large catastrophe losses,» an official of Munich Re, the world's large reinsurance company in the field of natural disaster mitigation, said recently.
ISO's Property Claims services (PCS) unit provides catastrophe loss information to insurance and other industries.
Commercial property insurance rate increases are easing off initial spikes following 2017's record natural catastrophe losses, but commercial...
From 1993 to 2012 winter storms resulted in about $ 28 billion in insured catastrophe losses (in 2012 dollars), or more than $ 1 billion a year on average, according to Property Claim Services (PCS).
The most directly comparable GAAP financial measure is the combined ratio, which is computed by adding total incurred losses and LAE, including the impact of catastrophe losses and loss and LAE reserve development from prior years, with the insurance expense ratio.
Jimmy Bhullar, insurance analyst, JP Morgan Chase states that companies are forced to raise prices because of the high catastrophe losses they incur in some regions.
While EPS decreases should give every investor some pause, the company explains itself by pointing to significant catastrophe losses (hurricanes etc).
Interestingly, Bob Ward neglects to mention this statement which appeared in the published version of Muir - Wood et al.: «We find insufficient evidence to claim a statistical relationship between global temperature increase and normalized catastrophe losses.»
A. 2 of Miller, Muir - Wood and Boissonnade, An exploration of trends in normalized weather - related catastrophe losses.
catastrophe losses could materially and adversely affect the Company's results of operations, its financial position and / or liquidity, and could adversely impact the Company's ratings, the Company's ability to raise capital and the availability and cost of reinsurance;
April 24 (Reuters)- Insurer Travelers Cos Inc's quarterly profit missed analysts» estimates on Tuesday due to a rise in catastrophe losses and lower investment income.
Unless otherwise noted, (i) the segment results discussed below are presented on an after - tax basis, (ii) prior - year development includes both catastrophe and non-catastrophe losses and LAE, (iii) catastrophe losses and LAE exclude the impact of prior - year development, (iv) underlying loss ratio includes loss and LAE, and (v) all comparisons are made to the prior year quarter unless otherwise stated.
Catastrophe losses were $ 6.1 million in the first quarter of 2018, compared to $ 42.7 million last year.
These results increased primarily from a lower level of catastrophe losses and improved underlying performance in the Property & Casualty division.
These catastrophe losses may cause loss trends to vary significantly between periods as a result of their incidence of occurrence and magnitude, and can have a significant impact on incurred losses and LAE and the combined ratio.
Looking at the largest economic losses, the year 2011 with major earthquakes in Japan and New Zealand is the highest loss to date: «with around 335 billion USD direct damage, the Tohoku earthquake - tsunami - nuclear sequence on 11 March 2011 is the highest single - event natural catastrophe loss,» says James Daniell.
Scientists have determined that insured catastrophe losses have not increased as a proportion of GDP since 1960... (Ramez Naam denies this)
A global catalogue of catastrophe losses was constructed (MuirWood et al., 2006), normalised to account for changes that have resulted from variations in wealth and the number and value of properties located in the path of the catastrophes... Once the data were normalised, a small statistically significant trend was found for an increase in annual catastrophe loss since 1970 of 2 % per year.
Despite heavy natural catastrophe losses, Bajaj Allianz recorded the best ever performance in terms of premium and profits and demonstrated the ability to absorb large losses without impairing the financial security, the company's MD Tapan Singhel said.
Commercial property insurance rate increases are easing off initial spikes following 2017's record natural catastrophe losses, but commercial insurance buyers still face upward pricing pressure on many lines of business for the remainder of 2018.
From 1991 to 2010, hurricanes, tropical storms and related flooding caused about 44 % of all catastrophe losses, with tornadoes making up 30 % and winter storms about 7.5 %.