The wine country wildfires of October 2017 are expected to have caused greater losses than any other in U.S. history. AON Benfield predicts that on an aggregated basis, “this is costliest insured wildfire event ever recorded.”
Read MoreAlthough there are still 9 active wildfires in California’s wine country, Cal-Fire anticipates that nearly all of these will be fully contained by the end of this week.
Read MoreSince the Bellefonte decision (Bellefonte Reinsurance Co. v. Aetna Casualty & Surety Co., 903 F.2d 910 (2nd. Cir. 1990) (”Bellefonte”) in 1990, the limits of coverage provided by facultative certificates have been pretty well defined, but cases over the last couple of years have challenged that assumption, with varying results.
Read MoreThe wildfires raging in Northern California are already the worst in the state’s history. The risk of cataclysmic fires is greater in Southern California, but the elements (fierce winds, high temperatures, and low humidity) conspired to create this conflagration.
Read MoreAs discussed in our prior QuickStudy issued on January 18, 2017, the US Federal Government and the European Union have come to an agreement on wide-ranging changes to reinsurance and establishment standards for the operation of insurance enterprises operating from one to another of these markets.
Read MoreLocke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
Read MoreHurricane Harvey has caused significant exposure for those owning habitational accounts in London’s direct and facultative (“D&F”) market. Habitational coverage insures commercial residential properties, and each habitational account could cover hundreds of properties.
Read MoreThe residents of Texas and Louisiana have begun to assess the scope of damage caused by Hurricane Harvey. On August 25, 2017, the storm made landfall near Rockport, Texas, as a Category 4 Hurricane.
Read MoreHurricane Harvey made landfall in Texas Friday as the strongest hurricane to hit the United States in a decade, leaving several people dead and tens of thousands more displaced.
Read MoreAs Hurricane Harvey barrels towards the Gulf, residents of Louisiana and Texas are scrambling to avoid a storm that forecasters currently predict will bring winds of over 110 miles per hour and dangerous flooding.
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