Natural catastrophes (Nat Cats)
Harvey could be most expensive natural disaster in US history, says AccuWeather
Hurricane Harvey could be the most expensive natural disaster in American history, costing the US economy $190bn, according to AccuWeather.
London Market insurers take fall after Harvey, no sign of ratings rise
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).
Insured losses from Hurricane Harvey to range into the billions
Insured losses resulting from Hurricane Harvey’s winds and storm surge could range from $1.2bn (£0.93bn) to $2.3bn (£1.78bn), according to AIR Worldwide.
The challenges of Cyclone Debbie
Cyclone Debbie was the costliest natural catastrophe to hit Australia for six years, while the scale of the event spurred innovation among insurers writes Nicky Burridge.
Reconstruction costs for Harvey could top $40bn
Reconstruction costs form property damaged by Hurricane Harvey could reach $39.6bn, according to Core Logic.
Harvey expected to be major hurricane as it approaches Texas landfall
Inland flooding, hurricane winds, and life-threatening storm surge poses a severe risk from Hurricane Harvey, according to catastrophe modelling firm AIR Worldwide.
Majority of risk managers unprepared for major claim
Under half of risk managers are prepared for a major claim, a survey has revealed.
Umbria Italy quake loss up 64% to €108m
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.
Perils pegs Storm Thomas loss estimated at €249m
Perils has pegged insurance and reinsurance industry losses for Storm Thomas at €249m (£229m).
Global Reinsurers feel the pressure in H1
Global reinsurers continue to feel the pinch of sustained pricing and earning pressure at the half year results, according to Fitch Ratings.
Blog: If Hurricane Andrew II hit Miami today
If a hurricane the strength of Andrew tracked through Miami today, losses would likely exceed $200bn ($155bn), almost twice what the insurance industry is prepared for, warns Karen Clark, co-founder of Karen Clark & Company.
The cost of Hong Kong's typhoons
A typhoon signal 8 warning can cost Hong Kong's economy as much as HK$4.29bn (£427m) each day writes Swiss Re Corporate Solutions head of north Asia and Hong Kong branch manager Dylan Bryant.
AIR estimates insured losses of $56bn if Hurricane Andrew were to strike again
AIR’s has estimated that if Hurricane Andrew were to recur today, the expected total industry insured losses would be approximately $56 billion (£43.48bn), based on today’s exposures.
Over $10bn of China economic losses in six weeks, says Aon Benfield
Aon Benfield's nat cat experts Impact Forecasting has recorded over $10bn of economic losses in China over a six week summer period following heavy flooding.
Flooding and storms wreak havoc across Asia
As Typhoon Noru approaches Japan flooding has killed over 250 people across Asia over the last few weeks and caused hundreds of millions of dollars of damage.
Swiss Re's first half profit falls 35% as Cyclone Debbie costs reach $360m
Global reinsurance giant Swiss Re saw powerful Cyclone Debbie contribute towards a 35% fall in profit in the first half of 2017 while gross written premiums declined by over $1.5bn (£1.14bn).
Insuring the Pacific: where cyclones can cost half a nation's GDP
The growing impact of climate change on the Pacific Islands just adds another layer of catastrophe risk to an already highly vulnerable group of countries.
Suncorp's FY insurance profits climb 30% in Australia; drop 55% in New Zealand
Brisbane-headquartered financial services group Suncorp saw mixed results in its two key insurance markets for the full year ending 30 June.
Blog: Travel insurance alone doesn't cut it for corporate clients
Corporate clients want travel insurance and travel risk management in the same place, says Chris Knight, head of corporate services at Cega.
UK government releases final ILS regulations
The UK government has published regulations that will introduce a competitive regulatory and tax regime for Insurance Linked Securities.
Insurance could cut natural disaster bill for developing nations by $11bn, says RMS
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.
Insurers face $22bn bill from first half nat cat losses, says Aon Benfield
The $22bn (£16.9bn) in insurer payouts from first half nat cat losses is 35% lower than the ten year average of $35bn according to Impact Forecasting - Aon Benfield's catastrophe modeling team.
Lloyd's unveils recovery plans for market-turning event
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.
LMA satellite service launches for nat cat claims
The Lloyd’s Market Association is to fund a satellite imagery and intelligence service that will enable improvements to claims processes and exposure management before and after a natural catastrophe.