by AIP Online Bureau | Feb 5, 2025 | Climate, Environment, Renewable Energy, Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance
Insured losses are estimated at $75 billion.The disaster will reduce L.A.’s gross domestic product by $4.6 billion, or about 0.5%, in 2025. Insured losses may cover only a fraction of the costs for fire victims. Many property owners seeking to rebuild were...
by AIP Online Bureau | Jan 17, 2025 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management, Technology
This analysis of both residential and commercial properties accounts for both fire and smoke damage as well as demand surge, debris removal, clean up and Additional Living Expenses (ALE). The majority of losses are to residential properties. Many of the potentially...
by AIP Online Bureau | Jan 9, 2025 | Disaster & Management, Eco/Invest/Demography, Intermediaries, International News, Non-Life, Reinsurance
J.P. Morgan believes that insured losses originating from the wildfire could be around $10 billion, “We expect a majority of the losses to be related to homeowners’ coverage and a significantly lesser amount to commercial,” it said U.S. private...
by AIP Online Bureau | Aug 12, 2024 | Climate, Environment, Renewable Energy, Disaster & Management, International News, Non-Life, Reinsurance, Risk Management
Wildfires are frequent in Greece during its hot, dry summers, but authorities have said climate change is fueling bigger and more frequent blazes. The fire sent a blanket of smoke over the center of the Greek capital, darkening the sky. It began Sunday afternoon about...
by AIP Online Bureau | Sep 23, 2023 | Eco/Invest/Demography, International News, Non-Life, Policy, Regulation, Reinsurance, Risk Management
The continued retreat of larger insurance carriers from the California residential property insurance market signals ongoing regulatory constraints, rising cost inflation, and higher catastrophe losses, credit rating agency Fitch said in a note earlier this year...
