Personal Lines

Commercial P&C rates increased 5 percent year-over-year in May for the third consecutive month, with property, general liability and workers compensation showing the steepest hikes. Personal lines rate increases accelerated to 4 percent with both homeowners and auto policyholders paying more.

There is a probability of 96-percent a hurricane of any strength will make landfallwith the usual suspects at the head of the list for landfall, says a team at Colorado State University.

Catastrophe modeler Eqecat says floods in Central Europe are the most damaging since 2002, when insured losses nearly reached US$3.9 billion.

Florida Sen. Bill Nelson, D, says he plans to reintroduce legislation giving the Treasury Department authority to make loans available to state-run reinsurance programs, such as the Florida Hurricane Catastrophe Fund, to ensure their solvency.

Hail is said to cause an average of $1 billion in damage to crops and property each year. A recent hailstorm in North Texas is quickly approaching half that amount on its own.

Claims adjusters never know what theyre going to encounter when a client has a loss.