Flooding
Industry to feel effects of Cabinet reshuffle after Treasury chief exit
The departure of Mark Hoban from his Treasury post as finance secretary will affect the progress of all areas of insurance-related issues, according to industry insiders.
Malta hit by deluge after thunderstorms
Thunderstorms brought heavy rain and flash flooding to Malta, southern Europe between Sunday, September 2 and Monday, September 3.
Insured loss estimates hit $2bn as Hurricane Isaac hits Louisiana a second time
Catastrophe experts have suggested that insured losses from Hurricane Isaac could total $2bn after the tropical storm made a second landfall in the US state of Louisiana.
Global warming to lead to stronger tropical cyclones
Scientists predict that global warming is likely to lead to stronger tropical cyclones, but that the overall global frequency of tropical storms and hurricanes is likely to decrease.
Fire and escape of water are most common commercial property claims
Water escaping from burst pipes or leaking taps is the most common commercial property claim, according to research by damage restoration business ServiceMaster Clean.
TMNF has superior rating as key earning source for Tokio Marine
Tokio Marine and Nichido Fire (Japan) has had its financial strength rating affirmed at A++ (Superior) and issuer credit rating at aa+.
Crawford boosts call centre services in Asia
Crawford & Company has entered into a joint venture with Call Centre Services to provide 24-hour access to an expanded call centre in a bid to respond to client needs in Asia-Pacific.
Cost of summer floods proves high as industry reports poor six-month results
This year's first-half results revealed a reverse in fortunes for Lloyd's and London market firms, while general insurers took a hit from the summer floods.
US property and catastrophe insurers to sustain largest Hurricane Isaac losses
Primary insurers including Liberty Mutual Group are likely to bear the brunt of any insured losses arising from Hurricane Isaac, Fitch Ratings has claimed.
Hurricane Isaac will not be a 'Katrina event'
Hurricane Isaac could cause up to £304m ($480m) in insured losses, experts have predicted.
Typhoon Tembin headed for Taiwan
Typhoon Tembin, the 14th typhoon of the 2012 Pacific season, is heading slowly for southern Taiwan, and is expected to make landfall today.
Ecclesiastical introduces rate rises after £14m underwriting loss
Church insurer Ecclesiastical plans to put up motor and household rates by up to 15% after posting a half year underwriting loss of £14.4m, which was more than double the £6m it was last year.
Asia View from the Top: Risk and opportunity abound
The economy of Asia has been rapidly growing. It now accounts for one-third of world gross domestic product and is likely to exceed 50% by 2050.
Reinsurers more risk-focused after Asian catastrophes
The spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their underwriting approach and risk appetite according to Fitch Ratings.
Reinsurers take stock of Asia-Pacific risks
Reinsurers are bracing themselves for the next catastrophe in the Asia-Pacific region following the spate of catastrophes over the last two years, according to Fitch Ratings.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Ambiental joins forces with Aon-Benfield on flood mapping
Aon-Benfield has collaboration with Ambiental to enhance its flood model development capabilities.
Aon Benfield and Ambiental join forces on flood mapping
Aon Benfield has teamed up with Ambiental to enhance the firm’s flood model development capabilities.
QBE records 26% increase in insurance profit in H1 2012
QBE Insurance Group made an insurance profit of $965m for the first half of the year ended June 2012, an increase of $203m on 2011.
Zurich boss hails 'strong' H1 results despite £19m flood loss
Zurich UK has admitted to losses of £19m as a result of the floods in the UK and Ireland during the first half of the year.
Zurich UK records 26% profit dip as COR also deteriorates
Zurich has blamed a volatile market after its UK operation's business operating profit suffered at the hands of summer floods, causing a 26% drop on H1 2011 to £52m.
Philippines finance secretary calls for support for Asian nat cat risk pool
The Philippine government is proposing a local Asian risk pool based on the Caribbean Catastrophe Risk Insurance Facility.