Flooding
Australian insurers keep well above water despite floods
Moody’s weekly credit outlook has said that despite the negative impact of the flood on Australian insurers’ profits, it is not a material credit event.
Postscript – 50 years ago: Insurers face fresh flood claims
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 50 years ago reveals.
Queensland flood costs to exceed A$1bn
Floods in Queensland, already affecting an area the size of France and Germany, have been declared as the worst in the state's history by government officials.
Munich Re: 2010 sixth worst for insured losses since 1980
Several major catastrophes in 2010 resulted in substantial losses and an exceptionally high number of fatalities, according to Munich Re.
Exclusive gender and risk assessment content now available on Post Europe
Post Europe’s last 2010 weekly update is now live with a look at the European Court of Justice’s decision on using gender as a risk factor will have on the insurance market, and a View from the Top that examines the importance of geographical data in…
Post Europe: The importance of geography
Geographical risk assessment has come on in leaps and bounds over the past 10 years. Insurers now have access to data across Europe that gives them the ability to pinpoint the locations of their insured risks better than ever before.
Conservative Party: no estimate exists for properties at risk of flooding
The Parliamentary Under Secretary of State (Natural Environment and Fisheries), Environment, Food and Rural Affairs has admitted that no figure exists as to how many properties are at risk if the insurance industry withdraws from the statement of…
Government urged to take flood action
A group of MPs have told the government that more must be done to protect properties that are under threat from flooding.
Earthquakes top reinsurance losses in 2010 according to Guy Carpenter
The earthquakes that devastated parts of Chile and New Zealand were the largest source of losses in 2010, costing the reinsurance industry $8bn (£5.07bn) and $4bn respectively, according to a new report by Guy Carpenter & Company.
China floods to have “limited impact” on insurers
The worst floods witnessed in China for more than a decade are unlikely to have a significant impact on the insurance industry, Guy Carpenter has claimed.
Aon Benfield annual cat report reveals $38bn loss for (re)insurers in 2010
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has released its Annual Global Climate and Catastrophe Report, which reviews the natural disaster perils that occurred worldwide during 2010.
Post Europe: View from the Top: Europe’s changing flood risks
In a recent survey nearly a third of European risk managers said extreme weather had caused disruption to their organisations in the past year, making it the most likely reason for a business stoppage.
JLT boss draws parallels between terrorism and flood insurance
The Government’s £200m cuts on flood defences could have a catastrophic effect on the commercial property market by making flood insurance unavailable.
Aon Benfield estimates £1.2bn snow losses
The recent adverse weather across Europe has caused an “economic loss” of £1.2bn in Britain alone, according to an estimate from Aon Benfield.
Axa: homeowners in flood risk areas are underpaying for insurance by 58%
Household insurance for homes in high flood risk regions is being subsidised by £511 each year, according to Axa. This means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect their homes against flooding.
Defra unveils 'payment for outcomes' flood scheme
Dealing with flood management in the "narrow sense of government funding" is "unimaginative and ineffective", according to the minister charged with its responsibility.
Swiss Re: insured losses up 34% to $36bn in 2010
According to initial estimates from Swiss Re’s sigma team, worldwide economic losses from natural catastrophes and man-made disasters were $222bn in 2010, more than triple the 2009 figure of $63bn.
Cunningham Lindsey handling 90 claims from flooding in Cornwall
Cunningham Lindsey has confirmed it is handling 90 claims following the floods in Cornwall earlier this month, with estimated total losses expected to reach up to £5 m.
Loss adjuster: surge status on amber after snowfalls
Loss adjusting group GAB Robins has revealed that its surge status remains on Amber.
ABI: cost of flood damage has tripled since year 2000
The cost of flood damage since 2000 has soared by 200% compared with the previous decade, with yet more people set to be at significant risk of flooding, according to the Association of British Insurers.
Cumbrian floods - Lessons learned: A timely reminder
A year on from Cockermouth and the UK faced another major flooding incident, in Cornwall. Jim Pittman examines how the industry coped in Cumbria and asks what lessons have been learned for dealing with extreme weather.
ABI figures reveal insurer flood bill has rocketed 200% to £4.5bn
Figures published today by the Association of British Insurers show that the cost of flood damage since 2000 has leapt by 200% on the previous decade.
CILA praises industry flood response
The Chartered Institute of Loss Adjusters has praised its members’ response to the Cumbria floods of 2009, one year on.