Flooding
Financing the growing costs of disasters
Reto Schnarwiler, head of global partnerships for Swiss Re, Americas and EMEA says that a lack of insurance and the growing costs of disasters are hitting individuals and governments hard. He explores how government partnerships with insurers can help…
Landslides and floods in Indonesia kill 15
Seven hamlets were left devastated by landslides and floods in Manado, the capital of North Sulawesi province in Indonesia, after torrential rain.
Flood-ravaged 2012 leaves insurers picking up £1.19bn bill
The Association of British Insurers has heaped praise on firms for their part in helping more than 1300 UK customers a day deal with the disruption caused by the second wettest year on record.
Australia claims in 2013 top AUS$670m
Four disasters across Australia in 2013 are expected to cost insurers more than AUS$670m as claims continue to come in.
Efra chair pushes alternative flood-risk proposal as SoP pressure mounts
The possibility of using a proportion of insurance premium tax to subsidise a pool of last resort for flood-prone homeowners has been championed by the chair of the Environment, Food and Rural Affairs Committee.
Thai government reinsurance fund reassures companies
International and domestic companies that suffered damage during the devastating Thai flooding in 2011 have purchased 3,745 catastrophe insurance policies from the National Catastrophe Insurance Fund.
Oswald floods reach AUS$300m insured loss
Flooding from ex-Tropical Cyclone Oswald has generated almost 26,000 claims in Queensland alone, according to the Insurance Council of Australia, with insured losses for the state estimated at AUS$290m.
Queensland flood damage bill reaches AUS$290m; costs set to rise
The devastating flooding in Queensland is expected to cost well over AUS$290m as over 25 800 claims have been received by insurers with more to come, according to the Insurance Council of Australia.
2000 Queensland homes flooded
Flooding in eastern Australia has forced thousands of residents to evacuate their homes after ex-tropical cyclone Oswald coincided with a monsoon trough, an elongated area of low pressure that moved south along the Queensland coast into New South Wales.
Queensland losses to exceed AUS$50m
Tropical cyclone Oswald has caused heavy rain in Queensland leading to three deaths, injuries, several missing people and damage to property.
Pressure mounting on government as MP brands flood talks 'in disarray'
Ministers have been forced to reiterate that flood talks between the government and the Association of British Insurers are ongoing after a member of parliament claimed discussions were “in disarray”.
JBA enters flood debate with new model launch
JBA Risk Management has joined the UK insurance industry flood debate after releasing a new model of the built environment designed to help property owners better understand the risks to homes, offices and business premises.
View from the top: Pool solution a proven concept
For those of us living or working in the UK, one regular weather event is inevitable: lots of rain. So, most readers won’t take much convincing of the fact that, in 2012, Britain suffered its second-wettest year since records began in 1910.
Aon launches weather reinsurance product
Aon Benfield has launched a weather reinsurance product that offers protection against adverse weather losses in the UK.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Asian insurers urged to be selective in current climate
Growth opportunities exist for insurers in wealth management and personal insurance, despite the economic slowdown and evolving regulatory change in Asia Pacific, according to Ernst and Young.
Large number of claims reported from Jakarta floods
Loss adjusting firm Cunningham Lindsey has been notified of a large number of losses resulting from flooding in Jakarta on Thursday.
Jakarta floods force 20 000 people to evacuate
Widespread flooding in Jakarta has prompted the Indonesian government to evacuate nearly 20 000 residents, according to Cunningham Lindsey.
Jakarta grinds to a halt after widespread flooding
At least four people were killed and 20,000 evacuated on Thursday as widespread flooding hit the Indonesian capital of Jakarta.
Thai insurer opens flood credit line
MSIG Insurance (Thailand) has opened a Bt1bn ($33.5m) emergency credit line to help pay out Bt2bn ($67m) for flood damage.
The importance of disaster restoration
Insurers in Asia are increasingly turning their attention to property restoration following natural disasters, spurred on by the possibility of huge cost savings, writes Nicky Burridge.
Two thirds of German homes not covered for natural hazards
Over two thirds of householders in Germany are not insured against damage by extreme weather conditions, according to Munich Re's primary insurance arm Ergo.
DAS targets fire and flood victims with Loss Assist product
Legal expenses insurer DAS is launching the latest version of its Loss Assist product to provide assistance for households that have suffered damage to property or contents.