Risk Management Solutions Inc., a Moody’s Analytics company, Friday estimated insured losses from Hurricane Ian to be between $53 billion and $74 billion, with a best estimate of $67 billion. The estimate includes wind and storm surge losses in Florida, South Carolina, North Carolina, Georgia and Virginia, based on an analysis of ensemble footprints in …
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poor’s Global Ratings said in a note Friday. However, insurers are well-positioned to absorb losses, and losses for global reinsurers should remain within …
Boston-based catastrophe modeler Karen Clark & Co. said Friday insured losses from Hurricane Ian in the U.S. and the Caribbean will be close to $63 billion. In nominal dollars, Hurricane Ian will be the largest hurricane loss in Florida history, KCC said. Total economic damage will be well over $100 billion, including uninsured properties, damage …
Apple Inc. is close to erasing its losses for the year as softer-than-expected inflation data fueled a risk-on rally in the stock market Wednesday. Apple Inc. is close to erasing its losses for the year as softer-than-expected inflation data fueled a risk-on rally in the stock market Wednesday. The iPhone-maker edged 2.6% higher to $169.24 …