Flooding
Heavy rain death toll rises in India
Earlier than usual monsoon rain has killed at least 70 people in India, with the north of the country the worst hit.
Top 5 European stories
The top five European stories on www.insuranceinsight.com over the past seven days.
Talanx expects under €250m losses from European floods
German insurance giant Talanx has estimated its net loss from flood claims in Germany and neighboring countries at less than €250m.
Dutch insurance association rues "missed opportunity" on flood cover
The Dutch Association of Insurers has issued a stark warning on flood cover, after the Consumer & Market authority declared its proposed flood solution "violated competition law".
Competition watchdog says Dutch flood proposals are anti-competitive
The Netherlands’ Consumer & Market Authority has delivered a blow to plans to make flood coverage mandatory from January 2014, saying the proposals violate competition law.
Hannover Re flood loss may exceed €100m
German reinsurer Hannover Re said today its net loss from the recent flooding in Central Europe could exceed €100m.
Allianz expects €350m European flood hit
Allianz expects a net loss from the flooding in Central Europe to be approximately €350m, the German insurance giant said today.
Disaster model released for German floods
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods.
Swiss Re warns of $44bn loss scenario from Chinese flood and storm surge
With its large economy and over half of its manufacturing centres exposed to flood risk, China represents a much bigger risk to insurers than Thailand, according to a new report from Swiss Re.
Dam bursts on River Elbe
23 000 people have been evacuated from the east German city of Magdeburg after a dam burst as the River Elbe overflowed.
Hundreds of SMEs hit by European floods
Hundreds of small and medium sized enterprises are likely to have been affected by the floods in Central Europe, according to claims management firm Crawford & Co.
Budapest's flood defences hold firm
The worst of the flooding appears to be over in Budapest as the river Danube starts to recede.
Hungary braces for highest ever flood wave
Hungary’s prime minister Viktor Orbán has warned the country to brace itself for its worst ever floods.
Czech flooding could cost industry €293m
Insured damage from floods in the Czech Republic could cost 7.5bn crowns (€293m), according to the country’s insurers.
Insured flood losses likely to be below 2002 level
The macroeconomic losses from the floods in central Europe are likely to far exceed the insured losses, Munich Re’s chief executive Niclaus von Bomhard said.
“Significant damage” expected from devastating European floods
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
Property Claims 2013: Property profitability under threat, says LV boss O’Roarke
Comparison sites and building practices pose problems
Property Claims 2013: Industry gives its backing to Flood Re model
A panel has backed the Association of British Insurers’ Flood Re scheme to replace the Statement of Principles, while warning that a return to an open market situation remains a possibility.
Heavy rain causes “record” Central European flooding
Floods wracking Germany, Austria and the Czech Republic are the worst for 70 years according to catastrophe modeller AIR Worldwide.
German floods reach record levels
Heavy and relentless rain has resulted in some of the worst flooding seen in Central Europe for more than 70 years.
Severe flooding hits Central Europe
Authorities in Central Europe have declared states of emergency after severe flooding hit cities across the region.
SoP talks “at an advanced stage”
Talks between insurers and the government to find a replacement for the Statement of Principles are “at an advanced stage” according to a government minister.
ABI responds to Scottish criticism of 'disproportionate' Flood Re
The Association of British Insurers has denied accusations that the introduction of its ‘Flood Re’ model would be “bad news for Scotland”.