The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights.
The National Hurricane Center (NHC) says three of the five-costliest U.S. hurricanes in history occurred in 2017. The top five, in order, are Katrina (2005), Harvey (2017), Maria (2017), Sandy (2012), and Irma (2017).
U.S. property/casualty insurers’ overall profit and underwriting performance between January-September 2017 produced the second-worst nine-month profit result since the Great Recession ended.
California’s insurers received nearly 45,000 claims and will pay out $11.8 billion in insured losses from the October and December 2017 wildfires, the state’s Department of Insurance announced.