Hurricane Harvey’s deluge of wind and rain across Houston and the Texas Gulf Coast hurt the shares of London Market property and casualty insurers on Tuesday as analysts peg insured losses as high as $20bn (£15.5bn).
Inland flooding, hurricane winds, and life-threatening storm surge poses a severe risk from Hurricane Harvey, according to catastrophe modelling firm AIR Worldwide.
Under half of risk managers are prepared for a major claim, a survey has revealed.
Estimated insurance industry losses from the earthquake that struck Italy in August last year has been increased by 64% to €108m (£99.4m), according to Perils.
Ageas UK has been forced to inject £24m into its Retail broking division to patch up an £18m dent left in the unit’s finances following the closure of Kwik Fit Insurance services.
New types of insurance could cut the costs of natural disasters for poorer countries and reduce the amount of humanitarian aid needed, according to a new report.
Global loss adjuster Cunningham Lindsey has appointed two UK operations directors, Stephen Kerr and Scott Cameron in the South and North of the UK respectively.
Lloyd’s of London has outlined plans to enhance and speed up recovery in the aftermath of a market turning event, an insurable loss so significant it results in a rapid upturn in pricing.
A major global cyber attack could trigger $53bn of economic losses, the equivalent 2012’s Superstorm Sandy, according to a report from Lloyd’s.
A “seasoned campaigner,” Crawford & Company’s chief client officer Benedict Burke was handed the Insurance Personality of the Year prize at the British Insurance Awards last night for a sterling 18 months which has seen him make a mark on a number of…
RSA scooped a trio of awards last night at the British Insurance Awards, winning in the claims initiative, major loss and young achiever categories.
For customers that operate across multiple sites of varying size and complexity, Neil Strickland, director for global consulting at RSA, says the application of new technology is addressing the challenge of how to provide cost-effective risk management…
With concerns growing about the coordination of the many parties involved in investigating major fire claims, a roundtable recently brought together insurers, adjusters, forensic investigators and fire service chiefs. As they discussed the many…
Swiss Re has estimated its claims burden from Cyclone Debbie in Australia at around $350m (£278m).
Today we reveal the companies that will be in the running for the 23rd British Insurance Awards at the Royal Albert Hall.
Global natural disaster events could impact insurers with a $2bn (£1.6bn) hit over March, according to impact forecasting from Aon Benfield.
Lloyd’s has seen underwriting profits slip on the back of major claims of £2.1bn last year.
Natural catastrophes and man-made disasters in 2016 resulted in insured losses of $54bn (£43bn), an increase of 46%, according to Swiss Re's latest Sigma study.
Global insured natural catastrophe losses totalled $39.5bn (£31.3bn) in 2016, the highest market losses since 2012’s $60bn, according to Willis Re.
Losses caused by severe weather outbreaks in the United States have exceeded $1bn (£800m) in January, according to the latest Aon catastrophe report.
Munich Re has seen full year profits decline by 16% owing to storm and earthquake claims in the last quarter.
The London market must be prepared for a major loss event according to Robert Childs, chairman of Hiscox.
The London market has sufficient resilience to withstand a $200bn (£160bn) loss caused by two major events over a two week period, according to a stress test conducted by an industry steering group.