Flooding
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
French floods to cost insurers €800m
The November floods in 16 regions of France look set to cost insurers €800m according to a new report.
$600m of Thai flood losses fall to Swiss Re
Swiss Re estimates its claims costs from severe flooding in Thailand will be $600m of the $11bn total losses.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Swiss Re estimates Thai losses at $600m
Swiss Re estimates its claims costs from the flooding of 1500 industrial units in Thailand to be $600m, net of retrocession and before tax.
Japan to set up Asian nat cat insurance plan
Japan is planning to establish a large-scale insurance system encompassing the Asia-Pacific region to cover developing countries hit by devastating earthquakes, typhoons and other disasters.
Thai floods lead Singapore Lloyd's Syndicate to close to new business
Singapore-based Lloyd’s Syndicate 1965 will no longer be accepting new business following the Thai floods.
Buyers queue up for Thai flood-hit Hardy
Hardy Underwriting has said it has had several preliminary expressions of interest in its business after putting itself up for sale following catastrophe losses from the Thai floods.
Nat-cats force Argenta's syndicate to close door to new business
Singapore-based Lloyd’s syndicate 1965 will no longer be accepting new business blaming this year’s catastrophes including the recent Thailand floods.
AIR joins with Intermap for European cat modelling
AIR Worldwide has entered into an agreement with Intermap for it to provide high-resolution elevation data to be used in the development of new catastrophe models for select European countries.
Thai flood supply chain losses could reach $20bn
The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best.
BI claims likely to contribute significantly to $20bn Thai flood losses
The majority of insurance losses from flooding in Thailand will come from the impact on manufacturing and supply chains, AM Best has confirmed.
Japanese quake and Thai floods create double BI blow
Insurers covering Japanese earthquake losses are facing unexpected increases in business interruption claims from manufacturers who moved production and sourcing of supplies to Thailand, according to law firm Reynolds Porter Chamberlain.
France and Italy assess flood damage
Torrential rains have caused widespread flooding in France and Italy during the first week of November after a low pressure system that developed over the Mediterranean Sea moved northwards, bringing high levels of precipitation.
European floods defy categorisation
Catastrophe modelling firm AIR Worldwide has said the storm that caused flooding in France and Italy earlier this month has led to 36 municipalities in France categorising it as a natural disaster.
AM Best warns of Thai floods hitting BI
AM Best has warned that Thailand’s ongoing flood disaster will trigger significant commercial and business interruption losses to manufacturing and supply chains in global markets.
Catlin: cat losses demand change
Catlin has called on its aggregate reinsurance after catastrophe losses from the Thai floods hit $670m.
Thai floods could cost $10bn
In an earnings conference call this morning to analysts Aspen predicted that the market loss as a result of the recent floods in Thailand could reach as high as US$10bn.
AIR releases inland flood model for Germany
AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
AIR releases German flood catastrophe model
Catastrophe risk modelling firm AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
Natcats and the insurance sector
The European Union is currently consulting on natural catastrophes. Vic Wyman reports on the part the insurance industry has to play.
Thai floods: Insured losses creep up
Global reinsurance broker Aon Benfield has estimated the insured losses from the floods in Thailand could be at least US$4.6bn.
Thai floods: Central Bangkok spared
The worst of the Thailand flooding is over but insurers will have to pay “significantly large business interruption costs”, according to Fitch Ratings.
NAO call on greater flood risk expertise at local level
The National Audit Office claim that local authorities must increase their technical expertise if they are to be given increased powers to identify flood risk and target investment.