Catastrophe & Restoration

The United States continued to be a source of insured catastrophe losses this year despite avoiding a hurricane landfall.

The lack of hurricanes making U.S. landfall this season is credit positive for reinsurers, according to Moody's Investors Service, as 2010 experienced worldwide natural catastrophe losses about in line with the average over the last 20 years.

There have been many articles written over the years about what insurance coverage Santa may need for his sleigh, but little consideration has been given to homeowners' policies and what exposures exist.

There are many temporary housing companies that specialize in partnering with the insurance industry to reduce the workload by simplifying the process, as well as reduce costs by increasing efficiency.

Natural and man-made catastrophes have caused an estimated $36 billion in losses for insurers in 2010, a 34 percent increase over last year.

Although a total of 19 named storms formed, the extremely active hurricane season was a 'gentle giant' for the U.S. according to the NOAA.