Christchurch City Council estimates that insurers have paid out around NZ$35-40bn (£18.6-21.2bn) following the earthquake in 2011.
Inland flood defences reduce river flood losses by 63%, saving the UK £1.1bn annually on average, according to a recent study.
The insurance industry has become progressively familiar with the idea of ‘unthinkable risks’ in recent years as unpredicted and unprecedented losses, caused by both natural catastrophes and man-made events, have continued to happen
An estimated $8bn (£6.1bn) of damage was caused by floods around the world in March 2019, according to an Aon catastrophe report.
Lloyd’s of London was slammed with another vast loss in 2018, following on from its £2bn loss in 2017.
Beazley saw profits fall 55% last year owing to the continuing affect of natural catastrophe claims on underwriting margins.
The mining industry is facing a shrinking pool of project managers but improved project management software, what impact is this having on the industry and its insurers?
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
Having left Crawford in April 2017 after 15 years at the firm, Ian Muress resurfaced in January as CEO of Sedgwick International, a claims business he describes as the largest of its kind "on the planet". He spoke to Jonathan Swift about why people…
The total sum of global underinsurance is $163bn, according to research from Lloyd's.
AM Best’s ranking of Asia-Pacific non-life insurers remains dominated by the same companies as last year, writes director of analytics Chi-Yeung Lok, noting the market characteristics of mature and emerging markets stay as disparate as ever
A week on from Hurricane Michael making landfall in Florida, estimates of the cost of the are beginning to emerge, running to as much as $21bn (£16.25bn).
The insurance market and the tourism industry have not always had reputations for embracing the latest technology. But things are changing and digital advances such as geo-location and data analytics will only help accelerate the pace of change
Business travel insurance might cover the same risks as leisure policies but, because it underwrites and compensates differently, it places a much stronger emphasis on risk management
Lloyd’s H1 pre-tax profit was down 51% on the same period last year, even as the Corporation saw improvements in its combined ratio.
Markel is to buy the world’s largest manager of insurance-linked securities, Nephila Holdings.
We have all experienced that heart-stopping moment when our phone rings and our eyes are greeted with the dreaded: "No caller ID."
In addition to insurers exposed to property risk, AM Best expects that motor insurers will see claims resulting from heavy rainfall.
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…
The insurance and reinsurance industry is braced for losses as category 4 Hurricane Lane continues to track towards the islands of Hawaii.
As climate change becomes tangible, insurers are feeling the heat. Their understanding of the risks could inform not just their underwriting but also their investment strategies.
Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were $20bn, 33% below the ten-year average of $35bn, according to Swiss Re Institute's preliminary sigma report.
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
Hiscox saw pre-tax profit climb 27% to $164m (£125m) in the first half of 2018, with the insurer’s retail arm contributing more than half of that figure.