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AM Best said market hardening was likely to continue through 2024, given global market conditions. -
Vesttoo has filed documents at the Bankruptcy Court for the District of Delaware that seek an automatic stay against White Rock and its putative liquidators.
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Homeowners’ and commercial insurance policies typically exclude floods, mudslides, debris flow and other similar disasters unless directly or indirectly caused by a recent wildfire.
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The loss event was flagged by European carriers in recent Q2 earnings disclosures.
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Swiss Re Capital Markets said there was a ‘strong chance’ of a record-breaking year in size and number of new bonds.
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"Finally we feel things are moving forward," says West Kelowna fire chief Jason Brolund.
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Data from the NHC shows that maximum sustained winds are near 65mph, with higher gusts.
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The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season.
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Severe convective storms caused strong winds, large hail and flash flooding in parts of the US and Canada between August 10 and August 15.
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The Cat-4 storm is likely to weaken as it approaches the California coast.
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The storm could cause between three to 10 inches of rainfall across portions of the Baja California Peninsula through Sunday night, with possible flash flooding from late Friday into late Sunday.
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The development in reconstruction costs and contingent BI claims may put the ultimate sum beyond current estimates.
