Natural catastrophes (Nat Cats)
Officials warn of threats to life from Typhoon Neoguri
AIR Worldwide has issued an alert on the potential impacts of Typhoon Neoguri, expected to affect parts of Japan, including high waves, heavy rain and damaging storm surges.
Market pressures driving price decreases at July renewals
Market pressures at 1 July renewals are continuing to drive price decreases across most countries and lines of business, according to Guy Carpenter.
Double figure hike for Japanese earthquake premiums
Japanese non-life insurers are expected to raise earthquake insurance premiums by an average of 15.5% according to a report in the Jiji Press.
Casserley demands transparency on resilience
Willis group chief executive Dominic Casserley has called on firms to publicly report on resilience against natural disasters alongside financial data.
Moody's revises outlook for global reinsurers as non-cat purchasing declines
Moody’s has revised its outlook for the global reinsurance sector over the next twelve to eighteen months to negative, as “pressures on several fronts” threaten to erode profit margins.
Profit margin slips by 1% at Tysers as chair eyes 'opportunities'
Tysers saw its Ebitda profit margin slip on a year-on-year basis from 19% in 2012 to 18%, despite recording 3% growth in overall revenues to £38.7m in 2013 (2012: £37.6m).
Perils revises Windstorm Xaver loss estimate up by €32m
Independent Zurich-based loss data provider, Perils has disclosed its third loss estimate for windstorm Xaver.
Australian homebuyers warned over rising premiums as climate changes
An Australian consumer watchdog Choice and Australia's Climate Institute are warning homebuyers to factor in rising premiums as a result of climate change.
Queensland to spend A$51m on disaster mitigation
Insurance Council of Australia welcomes Australian state's spending on disaster mitigation but criticises stamp duty policy.
Tens of thousands hit by huge flooding in Bosnia and Serbia
Over 40 people have died and thousands of people have been left temporarily homeless after three months of rain fell across three days in Serbia and Bosnia.
Over $60m of damage from rain in Guangdong
Heavy rain over the last week in the Chinese province of Guangdong has seen 15 000 claims so far.
Winter storm claims total upwards of £2.1m for Cornish Mutual
Cornish Mutual has revealed the cost of claims following “unprecedented” storms earlier this year have topped £2.1m.
Career development: ABI releases industry guide to non-modelled catastrophe risks
The Association of British Insurers has published an industry guide to better identify, assess and manage non-modelled aspects of global catastrophe risks.
Perils raises property loss estimate for windstorm Tini to £206m
Catastrophe data firm Perils has raised its estimate for the property insurance market loss emanating from windstorm Tini to €253m (£206m).
Heavy rain kills 21 and causes disruption in China, Macau and Hong Kong
Four days of heavy rain in China, Macau and Hong Kong, killed at least 21 people, flooded many areas, disrupted flights and train services.
Lloyd's calls for climate change risk modeling
Lloyd's of London is asking the insurance industry to factor climate change into risk models on an annual basis.
Nelson urges industry to factor climate change into cat models
Climate change is real and must be factored into all future catastrophe modelling, Lloyd’s chairman John Nelson has warned.
Multiple billion dollar natural disasters in April
Tornadoes and extensive crop damage led to multiple billion dollar natural disasters in April according to catastrophe modeler Impact Forecasting.
Disaster losses of $262m impact AIG profit in Q1
AIG has attributed catastrophe losses within its property and casualty businesses as a major factor in a 27% drop in profit to $1.6bn (£945m) in the first quarter of 2014 compared to $2.2bn in Q1 2013.
ABI issues guide to assessing non-modelled cat risks
The Association of British Insurers has published an industry guide to better identify, assess and manage non-modelled aspects of global catastrophe risks.
St Jude storm losses hit £898m, according to Perils estimate
Catastrophe data firm Perils has increased its loss estimation relating to windstorm Christian, which wracked the UK at the end of October last year, to €1.091bn (£898.4m).
Asia-Pacific significantly underinsured for catastrophes, says Asia Development Bank
The Asian Development Bank has warned in a report that underinsurance for natural catastrophes in the region is enough to wipe out economic gains from GDP.
A$8.4m of losses from cyclone Ita
According to the Insurance Council of Australia, insurers have received 680 claims (by noon on 15 April) in the aftermath of cyclone Ita, with insurance losses estimated at A$8.4m.
Public and insurers prepare for cyclone Ita in Queensland
Cyclone Ita, currently a strong category 3 storm, is expected to make landfall in North Queensland, Australia, on Friday 11 April.