Flooding
Midlands property claims spike after heavy rains
Heavy storms have generated a surge in claims for adjusters, with some regions receiving as much as 2 inches of rain in half an hour.
Perils publishes Maximum Flood Extent Map for European floods
Perils AG, the independent Zurich-based provider of industry-wide catastrophe insurance data, today released its Final Maximum Flood Extent Map for the floods which affected Central Europe in June 2013.
$20bn of natural disaster insured losses in first half of 2013
Global natural disaster losses during the first half of 2013 on both an economic and insured basis were each below the recent 10-year (2003-2012) averages according to Impact Forecasting.
Ergo's 'AA-' financial strength rating affirmed by Fitch
Germany-based insurers Ergo Life and DKV have had their insurer financial strength ratings affirmed at 'AA-' by Fitch.
Aspen puts Q2 cat losses at £39m
Bermudian insurer Aspen has announced an initial loss estimate of $59m (£38.8m) for the second quarter of 2012.
Aon faces $1m Superstorm Sandy lawsuit
A New York based-contractor is suing Aon Risk Services for more than $1m for allegedly failing to obtain adequate coverage for the firm, which suffered losses following Superstorm Sandy.
Q2 cat losses "manageable" for insurers
Second-quarter catastrophe losses, including flooding in Germany and the rest of Europe, appear manageable for most European and US insurers, according to SNL Financial.
Heavy rains cause flooding and mudslides in China
Days of heavy rain across the mountainous Yunnan and Sichuan provinces of southwestern China have caused widespread flooding and triggered landslides.
European floods to cost insurers £3.3bn
The insurance industry will faces losses of €4bn (£3.3bn) following flooding across Central Europe are, with most of the claims coming in Germany.
European flood payout tops £3.3bn
Insured losses from flooding across Central Europe are estimated at €4bn (£3.3bn), with most of the claims coming in Germany.
Tax payer will not be insurer of last resort in Floor Re, says Benyon
The government will not be the insurer of last resort under the proposed Flood Re scheme, environment undersecretary Richard Benyon said yesterday.
Blog: Is Europe Flood Re's Achilles' Heel?
David Worsfold, group editorial services director at Post's publisher, Incisive Media, explains why the ABI and government might have more to fear from Europe than they first thought.
UK Flood Re deal will be 'credit positive' for P&C players
Moody’s claims that the memorandum of understanding between the Association of British Insurers and the government on introducing the Flood Re model will be credit positive for UK property and casualty insurers.
UK Government will help out if Flood Re pot “runs out”
The UK insurance industry will not be responsible for recapitalising Flood Re in the event that it “runs out of money”, the Association of British Insurers has confirmed.
Losses from European floods could hit £4.5bn
Industry-wide insured losses on recent flooding in central and eastern Europe is expected to hit between $3.5bn (£2.4bn) and $4.5bn (£3bn), according to estimates by Swiss Re.
Flood Re deal will be 'credit positive' for P&C players, says Moody's
Ratings agency Moody’s claims that the memorandum of understanding between the Association of British Insurers and the government on introducing the Flood Re model will be credit positive for UK property and casualty insurers.
Losses from European floods could hit £3bn, says Swiss Re
Industry-wide insured losses on recent flooding in central and eastern Europe is expected to hit between $3.5bn (£2.4bn) and $4.5bn (£3bn), according to estimates by Swiss Re.
Oriental Insurance to lead flood-claims assessment in India
Oriental Insurance is thought to be assessing the claims arising from the devastating floods in Uttarakhand, on behalf of all four PSU general insurers, according to an industry source.
GIC Re launches hazard map after flooding “wake up call”
Devastating floods in the Indian state of Utterakhand has prompted Indian reinsurer GIC Re to unveil a new hazard map.
Government will step-in if Flood Re “runs out”
The insurance industry will not be responsible for recapitalising Flood Re in the event that it “runs out of money” following a one-in-200 year event, the Association of British Insurers has confirmed.
Low-levels of insurance could belie true cost of North-India flooding disaster
Uttarakhand now faces the challenge of settling the large number of claims likely to be filed in the wake of the devastating floods.
Post Audio Supplement - 4 July 2013
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Efra report calls for further funding for flood defences
The government has been urged to further increase spending on flood defences by £20m per year for the next 25 years in order to keep pace with escalating risks caused by severe weather patterns.