30 October 2017Insurance

Economic losses from wine country wildfires at up to $8bn

Economic losses from the wildfires impacting Sonoma, Napa, Solano, Lake, and Mendocino counties are estimated at between $6 billion and $8 billion, according to catastrophe risk modelling firm RMS.

The estimate range includes loss due to property damage, contents and business interruption caused by the fires to residential, commercial, and industrial lines of business. Automobile or agricultural crop losses are not included. High penetration rates of wildfire coverage in standard homeowners and commercial policies implies similar insured losses.

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R&Q agrees with ProSight Specialty Insurance to manage Syndicate 1110

Global insurance M&A activity slow in 2017

R&Q unit partners with Atlas General

RFIB launches Singapore operation in Asian expansion

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More on this story

27 October 2017   Insured losses from the Tubbs, Pocket, Nuns, Atlas, Redwood, and Sulphur fires in California will be between $2 billion and $3 billion, according to estimates by catastrophe modelling firm AIR Worldwide.
Alternative Risk Transfer
31 October 2017   Risk modelling firm RMS has opened a new office in Sydney, Australia. The company said the move is part of its drive to support clients’ expansion in the Australian and New Zealand markets.