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The carrier’s combined ratio deteriorated by 10.9 points to 101%. -
Perils estimated the loss at EU377mn six weeks after the event and at EUR488mn three months after.
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Google DeepMind developers recently said in a peer-reviewed paper that the model "marks a turning point in weather forecasting”.
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The number of disasters costing $1bn or more during the period is the highest on record.
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Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.
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The forecast reflects property damage and BI losses to residential, commercial, industrial and automobile lines.
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The estimate includes wind damage, as well as damage to property, automobiles, agriculture and direct BI.
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The worst of the damage was experienced in Brest, northwest France.
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The sidecar’s loss ratio improved by 139 points to 35% in the latest quarter.
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The storm caused significant wind damage and flooding across parts of Scotland and England.
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Up-to-date building codes could reduce the amount insurers pay in the Caribbean by 18%, according to the risk modeller.
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Verisk said the majority of the insured losses can be attributed to wind damage.
