Aon confirms huge number of nat cat losses not insured

Aon | January 22, 2020

Aon has published its latest catastrophe report, which points to a gaping insurance hole for 2019. According to the broking giant’s Weather, Climate & Catastrophe Insight: 2019 Annual Report released today, last year’s 409 natural catastrophe events equated to $232 billion in economic losses. Of this figure, however, only $71 billion was covered by insurance – be it government-sponsored programmes or coverage from the private sector. What this translates to is a whopping 69% global protection gap in 2019. A faint silver lining is the fact that the percentage of uninsured nat cat economic losses in the period, while significant, is the sixth-lowest since 2000.

Spotlight

Borrowers who are not able to make a down payment of 20 percent are viewed by lenders as a higher credit risk. Private mortgage insurance (MI) enables these borrowers to qualify for a conventional loan by insuring the lender against potential losses in the event a borrower is not able to repay the loan and there is not sufficient equity in the home to cover the amount owed.

Spotlight

Borrowers who are not able to make a down payment of 20 percent are viewed by lenders as a higher credit risk. Private mortgage insurance (MI) enables these borrowers to qualify for a conventional loan by insuring the lender against potential losses in the event a borrower is not able to repay the loan and there is not sufficient equity in the home to cover the amount owed.

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Relm Insurance Announces Strategic Partnership With CyberCube

Relm Insurance and CyberCube | November 22, 2022

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Inszone Insurance Services Completes Acquisition of Kirsch Insurance Group

Inszone | December 05, 2022

Inszone Insurance Services, a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Kirsch Insurance Group. Marlin Kirsch founded Kirsch Insurance Group in 2004. A Denver-based brokerage that specializes in Medicare Health Plans, Kirsch Insurance has focused on helping their clients in finding the best program for their specific needs. Their comprehensive grasp of all Medicare Plans and Options has helped them to assist clients in being better prepared for the future. “After years in the company, we've acquired a reputation for educating consumers in an easy-to-understand manner, so they can readily grasp the frequently perplexing concepts of the 'Medicare Maze’,” - Marlin Kirsch, the agency's prior owner The service that Kirsch Insurance clients are accustomed to will continue uninterrupted under the Inszone Insurance brand. Chris Walters, CEO of Inszone Insurance, said, Colorado has been a great source of growth for us; the acquisition of Kirsch Insurance is another milestone in our expansion in the state as we move toward our goal of establishing Inszone as Colorado's go-to insurance agency. The acquisition of Kirsch Insurance is part of the continued expansion and growth by Inszone Insurance and becomes the 9th acquisition so far in the Colorado area. Inszone Insurance is expected to announce several acquisitions as well as new locations in the upcoming months. About Inszone: Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 33 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

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