Net claims for U.S. p&c insurers resulting from the September 11, 2001 terrorist attacks have reached US$9.3 billion, according to U.S. rating agency Weiss Ratings Inc.Weiss says a review of claims filed with the National Association of Insurance Commissioners (NAIC) indicates that as of the end of 2002 the total had reached US$9.3 billion, up from US$8.5 billion at the end of 2001.Top insurer exposures in net claims include:General Reinsurance Corp. (US$1.42 billion)Allianz Insurance Co. (US$625 million)St. Paul Fire & Marine Insurance Co. (US$555 million)National Indemnity Co. (US$500 million)American Re (US$452 million)Federal Insurance Co. (US$426 million)Swiss Reinsurance America Corp. (US$346 million)Factory Mutual Insurance Co. (US$270 million)Hartford Fire Insurance Co. (US$269 million)Hartford Accident & Indemnity Co. (US$212 million)More than 20% of losses recorded belong to the two Berkshire Hathaway companies General Re and National Indemnity.Weiss notes that final numbers may not be known for many years to come.
U.S. insurer enters Canada with affluent homeowners’ insurance, to offer auto in 2025
U.S. property and casualty insurer PURE Insurance has expanded into Canada with home insurance for affluent homeowners whose properties are worth between $2 million and $100 million. Privilege Underwriters Reciprocal Exchange (PURE) announced its first international expansion outside of the U.S. on Monday with the launch of a Toronto office that will begin offering home […]
By Jason Contant | September 9, 2024
3 min read
