Insurance Information Institute News
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A swath of the Midwest that’s home to 63.9 million people faced a third day of tornadoes, powerful thunderstorms and damaging hail from the same system that spawned yesterday’s deadly Oklahoma twister.
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U.S. insurers’ costs tied to dog bites fell for the first time since 2004 as a decline in the number of claims cushioned another increase in the average expense per attack.
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President Barack Obama met with chief executives of utility companies and their affiliated lobby groups on minimizing power disruptions during major storms like those that occurred in the Northeast after Superstorm Sandy.
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Allstate Corp., the largest publicly traded U.S. car and home insurer, said first-quarter profit fell 7.4 percent as costs tied to the most expensive storms rose.
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State Farm Mutual Automobile Insurance Co. and Nationwide Mutual Insurance Co. are among insurers with the most at risk from Hurricane Earl, which threatens to graze North Carolina on Sept. 3.
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New Zealand’s deadliest earthquake in eight decades may be the costliest natural disaster for insurers since 2008, according to estimates from JPMorgan Chase & Co.
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U.S. property and casualty insurance sales rose for the first time in four years as carriers raised rates and individual and commercial clients expanded coverage amid an economic rebound.
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Hurricane Sandy’s economic toll is poised to exceed $20 billion after the biggest Atlantic storm slammed into the Eastern U.S., damaging homes and offices and flooding subways in America’s most populated city.
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Hurricane Irene’s estimated cost to insurers fell to about $2.6 billion in the U.S. as the storm lost strength en route to New York, according to Kinetic Analysis Corp., a firm that predicts the effects of disasters.
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Swiss banks must lure affluent clients from emerging markets or face a “slow death” as the pursuit of tax dodgers by U.S. and European authorities results in outflows of assets, industry officials and investors said.
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