Flooding
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.
Thai floods: Insured losses to be "managable", says Fitch
Insured losses from the Thailand floods will be “manageable” at $4.5bn and not trigger widespread solvency problems, or undue financial strain for the country’s non-life insurance players, according to Fitch Ratings
Thailand flood losses manageable for insurers
While the current flooding in Thailand is unusually severe and economically costly, the insured losses are likely to be at a manageable level and will not trigger widespread solvency problems, or undue financial strain, for the country's non-life…
Dublin suffers flooding after torrential rain
Torrential rainfall has caused widespread damage on both sides of the Irish Sea, with Dublin suffering the worst of the impact.
Ireland and SW UK hit by flooding
Catastrophe modelling firm AIR Worldwide reports that torrential rainfall has caused widespread disruption and damage on both sides of the Irish Sea, with the Dublin area has been the hardest hit.
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Thai floods: Waters set to overwhelm Bangkok
Loss adjusters are preparing for the complete flooding of Bangkok as waters reach the centre of the city.
Thai flood losses set to escalate - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting…
Dublin City activates emergency flood plan
A major emergency has been declared in the Irish capital Dublin after severe flooding hit the city.
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Claims event: ABI urges ‘shared responsibility’ for flood cover
Homeowners living in high flood risk areas could potentially see their insurance part-covered by government subsidies after the Statement of Principles agreement expires.
ABI warns over government planning reforms
The Association of British Insurers has warned that government plans to reform the planning process must not lead to unwise developments being built in flood risk areas making flood insurance more expensive or even unobtainable.
Insurance Insight October is now live
Insurance Insight October is now live with an article on ratings across Europe; a look at how a huge cloudburst in July has affect the Danish insurance market; and an interview with Alberto Corinit, formerly of the CEA and CEIOPS.
Severe weather sets new agenda for Danish insurance firms
Denmark was this year hit by the worst cloudburst ever seen in the country and experts are predicting that weather of this type will only increase. As the insurance market recovered from these claims Anne-Louise Fogtmann asks what they are doing to…
New Zealand faces mass withdrawal as earthquake claims stack up
Insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
View from the top: Time for action
Insurers must fight to protect their fundamental purpose faced with the threat of external interventions, says Barry Smith, CEO, Ageas UK.