Flooding
Winter storm learnings key for Flood Re's future
Learning from the December 2015 floods and longer term data trends will be key to making Flood Re a success, according to its CEO Brendan McCafferty.
Zurich UKGI COR hits 109.5% amid £62m operating profit loss
Zurich's UK general insurance business has reported a £62m business operating profit loss in its 2015 full-year results due to a high volume of large losses, and claims related to the end of year UK storms and floods.
Storms cost Aspen £17.8m in Q4
Aspen Insurance Holdings paid out $25.7m (£17.8m) related to UK floods in the quarter ended 31 December 2015 as it reported a combined ratio of 99.6% for the period.
Flood losses caused by storms Eva and Frank hit £526m
Insured property market losses resulting from flooding caused by storms Eva and Frank in December and from further low pressure systems last month totalled £526m, according to the catastrophe insurance data firm Perils.
Munich Re releases €1.4bn of reserves as it records €3.1bn profit despite Ergo struggles
Munich Re this morning reported a consolidated profit of €3.1bn (£2.5bn) (2014: €3.2bn) for 2015 on gross written premiums of €50.4bn (2014: €48.8bn).
Blog: Flood claimants must prepare for the long haul
There may be less media interest in the floods but loss adjusters must manage expectations as the hard work has only just begun
Blog: Davies Group - insurance industry could still do better on floods
Don't be fooled by the positive press, there is still scope to do a lot more to help claimants, particularly when there is a surge...
Naming of storms to potentially impact apportionment of claims
The Met Office’s new policy of naming storms that make landfall in the UK could have a significant impact on the apportionment of claims between direct insurers and their reinsurers in the excess of loss market.
C-Suite - MGA: Calling all advocates
The industry needs happy policyholders to help turn its reputation around.
Quiz of the week - 22 January 2016
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Editor's Comment: Writing a new chapter
A new year and a new start; time to ring in the new; the new year is like a blank book and you have the pen to fill the pages – you probably heard all of these and more as Big Ben chimed in the New Year and you planned your resolutions.
The road to repair: how the industry has responded to flooding in Cumbria
The government is making grants available for flood resilient repairs.
C-Suite - Insurer: A climate of hope
Following the floods, the COP21 agreement offers a glimmer of optimism over climate change
Quiz of the week – 15 January
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Storm Desmond cost insurers £759m, says Perils
Perils, which provides consolidated catastrophe insurance data, has estimated the insured cost of Storm Desmond for properties affected by flooding and wind at £759m.
Flood Re completes exec team with hires from Pro Sight and Pen
Flood Re has completed its executive team with the appointment Harriet Boughton as its general counsel and Karen Clautour as head of operations.
Blog: Shoulder to shoulder through the floods
People in Cumbria have been hit hard by floods and the CILA president Benedict Burke saw first hand how residents are feeling.
Pre-April renewal flood victims facing hiked household premiums
Flood victims who are due to renew their household insurance policy before the April introduction of Flood Re will be faced with inflated premiums, amid widespread rate reductions elsewhere.
DLG predicts up to £140m in flood losses
Losses incurred by Direct Line Group following flooding caused by the storms Desmond, Eva and Frank during December are expected to total between £110m and £140m.
Blog: From AIG to Zurich, five predictions for insurers in 2016
Now that we have all had a chance to get back into our pre-Xmas routines; quit our cous-cous diets and break our new year’s resolutions, I thought it would be a good time to look into my crystal ball and predict how the year might pan out for insurers.
Flood victims given £24m by insurers in emergency payments so far
Insurers have forked out almost £24m so far on emergency payments to families and businesses effected by the floods caused by storms Desmond, Eva and Frank during December and over the New Year.
NZ$115m of New Zealand catastrophe insured losses in 2015
Natural disasters cost insurers in New Zealand NZ$115m (£52m) last year down from NZ$153m in 2014 according to the Insurance Council of New Zealand.
Industry facing 108% COR for 2015 as floods wreak havoc on home profits
Insurers’ profitability for home insurance in 2015 has been put into freefall by the intense period of wet weather in December, with combined operating ratios for the year estimated to have deteriorated 16 percentage points to 108%.
UK floods to 'significantly weaken' 2015 earnings, says Fitch
Ratings agency Fitch said the impact from recent flooding in the UK could weaken earnings for some firms and take the year combined ratio above 100%.