"Investors and certified analysts are trying to figure out how much underlying margins will shrink, going forward," Amit Kumar, an analyst at Macquarie Research, told Reuters. Insurers have also been hit by claims stemming from hail storms in Texas, earthquakes in Japan and Ecuador and floods in Europe during the quarter. Pre-tax catastrophe losses, net of... » Read More
TORONTO, May 5- A wildfire in the Alberta city of Fort McMurray could cost insurers as much as C $9 billion, making it by far the costliest ever Canadian natural disaster, according to research by Bank of Montreal Capital Markets. The bill for insurers was C $700 million in that fire, and the Fort McMurray fire is bigger and the properties more valuable.
TORONTO, May 4- A wildfire in the Alberta city of Fort McMurray is set to become the costliest ever Canadian natural disaster for insurers, with 1,600 buildings destroyed and another 19,000 under threat, analysts and industry sources say. The fire in Slave Lake, a small town 250 km northwest of the city of Edmonton, led to the destruction of 374 homes, less than a...
The weather system moves into the Mississippi Valley and South on Wednesday.
The Power Lunch panel discuss the massive flooding that took place in Houston.
A historic storm brings more than 240 billion gallons of rainfall to the area.
Forecasters say major river flooding is expected to continue for many days.
Bart De Smet, CEO of Ageas, says the recent flooding in the U.K. cost the company £64 million, but it remained profitable.
PARIS, Feb 9- French water and waste group Veolia said on Tuesday it is talks to install a flood prevention system in the city of New Orleans that was devastated by Hurricane Katrina in 2005.. Veolia innovation director Laurent Auguste said a study will be carried out jointly with Swiss insurer Swiss Re and that Veolia- which operates the main New Orleans waste...
*Wild weather across Australia kills one. *Tasmania fires burn through 72,000 hectares, floods threaten communities. PERTH, Jan 31- A tropical cyclone that crossed Australia's northwest coast early on Sunday weakened, although several small inland communities were on red alert and the risk of heavy swells, flooding and storm surges remained.
The first wave of El Nino storms hit California this week. Roofers are booked solid with repairs, and Californians are flooding insurers with requests for flood insurance. Jane Wells discovered that when it rains, it pours, in more ways than one.
The National Weather Service issued flood warnings for 12 million Americans living in the Midwest.
Swollen rivers in the U.S. Midwest and other regions brought flood warnings for over 12 million Americans on Wednesday.
More rain and flooding are expected in the Midwest prompting widespread evacuations in Missouri, reports NBC's Morgan Radford.
NBC's Morgan Radford reports more rain and flooding are expected in the Midwest prompting widespread evacuations in Missouri.
The Weather Channel's Mike Siedel reports from Amarillo, Texas, on the aftermath of blizzards in Texas, and dangerous flooding in the Midwest.
The Weather Channel's Reynolds Wolf reports from Oklahoma City on sleet and ice covering the roads throughout the city.
The Weather Channel's Mike Seidel reports on more bad weather after deadly winter weather hit parts of the central U.S. over the holiday weekend.
A winter weather watch remains in effect after a series of tornadoes and severe thunderstorms hit the central U.S. over the weekend, reports The Weather Channel's Mike Seidel.
The Weather Channel's Kelly Cass reports thunderstorms, tornadoes and flood watch remain in effect as a series of severe storms sweep across the nation.
Record-breaking rainfall caused by a winter storm named Storm Desmond has devastated towns and cities across the north of England.