Flooding
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.
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.