The National Flood Insurance Program (NFIP) has already paid out over $1.4bn in losses stemming from Hurricane Helene as it works to process the more than 56,000 claims that have been filed since the storm made landfall in late September.

The CrowdStrike outage in July will prompt insurers to review cyber policy wordings and coverage for systemic or supply chain incidents at upcoming renewals, according DAC Beachcroft.

Tomorrow marks the official conclusion of the 2024 Atlantic hurricane season, which ultimately delivered on expectations that it would be “hyperactive”, with a few surprises along the way.

Supply chain risks and exposures in the cyber line of business demand greater attention going forward, according to industry leaders, with the CrowdStrike outage in July acting as a “warning shot” for insurers and the wider real economy alike.

Storm Bert, which hit the UK and Ireland over the weekend, has triggered a 60 percent surge in insurance claims, although its impact is more localised than previous storms, according to claims management provider Sedgwick.

While recent floods in Spain's Valencia and Malaga regions have caused damage totalling several billion euros, insurers have been shielded by the country's state-backed disaster backstop, highlighting the role such initiatives can play in the event of major losses.

Chubb leads the DHL aviation cargo insurance program that is likely to be triggered after a SwiftAir-operated Boeing plane crashed this morning near Vilnius International Airport in Lithuania, The Insurer understands.

Property Claim Services (PCS) has issued an updated estimate of $14.7bn for insured losses from Hurricane Milton, almost three times its initial estimate of $5bn, The Insurer understands.

Economic losses from the territories impacted by Typhoon Man-yi between 16 and 17 November may reach the tens of millions of dollars, according to Aon.

Personal lines giant Allstate has estimated pre-tax catastrophe losses for October of $286mn, including $102mn from Hurricane Milton and unfavourable reserve reestimates of $144mn related to Hurricane Helene.

Pharma class actions, mounting PFAS litigation and the growth of collective redress outside the US are creating a challenging market for liability insurers, which are already grappling with “spiralling” claims costs as nuclear verdicts increase in number and size, according to Allianz Commercial.

AM Best’s latest report on asbestos and environmental liabilities has held the firm’s estimate for ultimate net losses steady at $146bn combined despite evolving environmental litigation related to PFAS, while reserves continued to decline along with incurred losses.

An atmospheric river that caused widespread flooding along the southern British Columbia coastline in Canada between 18 and 20 October has generated insured damages of over C$110mn ($78mn), according to Catastrophe Indices Qualification and Quantification (CatIQ).

Over 200,000 residential policyholders impacted by California’s recent Mountain Fire have had their coverage preserved after a moratorium was issued preventing carriers from non-renewing or cancelling protection for those affected, while Aon has said insured losses from the blaze will be “notable”.

Flash flooding across southern Spain in October is likely to generate total insured losses of more than €4bn, according to Morningstar DBRS, including those covered by the state-backed catastrophe consortium.