Catastrophe modelers have spent a lot of time analyzing the Northeast for windstorm risk, but Superstorm Sandy revealed numerous failings in the programs, resulting in significant losses for some insurers, says Fitch Ratings.

Catastrophe modelers have spent a lot of time analyzing the Northeast for windstorm risk, but Superstorm Sandy revealed numerous failings in the programs, resulting in significant losses for some insurers, says Fitch Ratings.

United Property & Casualty Insurance Co. says it has assumed 15,133 policies from Citizens Property Insurance Corp., Floridas last-resort insurer.

United Property & Casualty Insurance Co. says it has assumed 15,133 policies from Citizens Property Insurance Corp., Floridas last-resort insurer.

While winter weather pelted the U.S. heartland in December causing millions of dollars in damage and close to 30 deaths, the Philippines suffered from Super Typhoon Bopha, which struck the island of Mindanao taking close to 2,000 lives, says Aon Benfield.

After catastrophes in 2011 drove down net income for the first nine months of that year, a relatively benign first nine months in 2012 led to a rebound in insurers results, showing the large role weather plays for the insurance industry.

For property and casualty insurers, 2012 was looking like it would be a banner year, until Superstorm Sandy struck, say commentators. But the industry's net income after taxes still grew to $27 billion in the first nine months of the year, compared to $8.4 billion in 2011.

Pet poisoning increases during the Christmas season possibly because of all the seasonal food left out that upsets the animals tummies, a British insurer says.