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Property Market Update: Second Quarter 2015

August 29, 2015 marked the ten year anniversary of Hurricane Katrina. Katrina remains the largest ever windstorm loss and the costliest disaster in the history of the global insurance industry, causing between $45 and $60 billion in insured losses. Katrina changed how the insurance industry views and manages risk. Initial loss estimates were difficult to predict because of the scarcity of quality information. Catastrophe (CAT) modeling has now become routine and quality data drives better modeling results and thus terms and conditions. This Gallagher Property Marketing Update: First Quarter 2015 reviews how is all of this affecting the property market.

Tag(s): Real Estate; Property; Hospitality;

Property Market Update: First Quarter 2015

In 2014, the year began with the second costliest winter storm in over 20 years. The U.S. also experienced two additional loss events triggered by natural disasters including severe thunderstorms throughout the country and the Napa earthquake - which was the largest U.S. earthquake loss since 2001. Globally, natural disasters produced a combined total insured loss of $39 billion in 2014, which was 38% below the 10-year average and the lowest annual insured loss total since 2009. This Gallagher Property Marketing Update: First Quarter 2015 reviews how is all of this affecting the property market.

Tag(s): Real Estate; Property; Hospitality;