In addition to insurers exposed to property risk, AM Best expects that motor insurers will see claims resulting from heavy rainfall.
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…
The insurance and reinsurance industry is braced for losses as category 4 Hurricane Lane continues to track towards the islands of Hawaii.
Insured losses from the June and July flooding in western Japan could total up to $4bn (£3.2bn), according to catastrophe modelling firm Air Worldwide.
RSA posted a 15% drop in group operating profit for the first six months of the year as British and Canadian weather losses dent the insurers’ results.
Carriers in the London market must work together in consortiums to spread risk, combat rising expenses ratios and mitigate underwriting pressures, Hiscox chairman Robert Childs said.
The anatomy of European flooding means insurers and reinsurers should model their potential losses across several countries, explains Dr Maurizio Savina, director at RMS.
Flood Re has set out its long-term vision for when it exits the market in 2039.
The Post team is feeling proud this week, having not just reached our fundraising target of £500 for our charity run through mud but having exceeded it well before deadline date. Thanks to all that have supported us so far.
Exclusive: RSA has backtracked over a decision to not award bonuses to UK staff, after employees claimed it was unfair that group CEO Stephen Hester received a bonus of almost £5m.
Direct Line Insurance Group reported a 5% drop in quarterly gross written premiums and faces a £50m bill as a result of Britain's long, icy winter.
Flood Re is set to freeze the premiums it charges to insurers for the first time.
The National Flood Insurance Programme would be extended to 31 July as part of a $1.3trn federal spending package signed by President Trump on Friday despite threatening to veto the bill earlier the same day.
The 'Beast from the East' and storm Emma have caused a surge in escape of water claims, notes Clive Nicholls, UK and Ireland CEO of Crawford & Company, urging the insurance industry to unite to promote preventative measures.
Many opportunities are missed to make properties flood-resilient instead of just repairing them, write Dr Jessica Lamond and Dr Rotimi Joseph, respectively associate professor and visiting fellow at the University of the West of England Bristol. They…
Emerging Asia is set to remain the world’s fastest growing general insurance market in 2018.
Escape of water claims are reaching an all-time high and the risk can be even more prevalent in the high-net-worth sector. From bespoke wet rooms to expensive technology, with homeowners away for extended periods, the damage can prove complex and…
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
Water resilience can reduce the trauma and cost of restoring a flooded property, writes Roy Shevlin, building consultancy services director at Cunningham Lindsey.
John Eves has replaced Jonathan Clarke as president of the Chartered Institute of Loss Adjusters. Eves will balance his new responsibility alongside his role as managing director of Irish loss adjusting firm, Thornton & Partners. The new Cila president,…
Technology can’t influence the weather but can change its outcomes during surge, explains Claims Consortium’s operations director Connie Beasley.
Canopius has agreed to cede risks to the UK government-backed Flood Re scheme.