Underinsured markets represent a major opportunity for Lloyd’s, the markets chief commercial officer has said.
Hurricane Harvey and Irma both highlight the problem of inadequate flood insurance and need for reform in the United States, Inga Beale has said.
The current catastrophe exposure of Lloyd’s has left the market vulnerable, Fitch Ratings has said.
Hurricane Irma could result in insured losses of $20bn to $65bn, according to a preliminary estimate from AIR Worldwide.
Hurricane Irma could see industry property losses of $131bn, according Lloyd's realistic disaster scenario analysis.
The risk landscape in renewable energy is constantly changing and underwriters need to exercise proper due diligence, argues Fraser McLachlan, CEO of Gcube Underwriting.
The expected cost of total uninsured and insured property losses in the US from Hurricane Harvey is likely to be between $65bn (£50bn) and $75bn according to catastrophe modeling firm AIR Worldwide.
The inaugural Claims Conference Sydney took place on 29 August. Chairman Andrew Tjaardstra summarises four key themes from the event.
Florida governor Rick Scott has declared a state of emergency for every county in the state as powerful storm Hurricane Irma approaches.
Crawford and Company has deployed more than 200 adjusters in Southern Texas to assess the damage caused by Hurricane Harvey. One of them, James Warren, whose own home has been damaged, describes the streets as eerie as there is no power, no road signs,…
Hurricane Harvey is unlikely to trigger ratings downgrades for property and casualty insurers and reinsurers, said Fitch Ratings.
Hurricane Harvey could be the most expensive natural disaster in American history, costing the US economy $190bn, according to AccuWeather.
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 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.
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 form property damaged by Hurricane Harvey could reach $39.6bn, according to Core Logic.
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.
Perils has pegged insurance and reinsurance industry losses for Storm Thomas at €249m (£229m).
Global reinsurers continue to feel the pinch of sustained pricing and earning pressure at the half year results, according to Fitch Ratings.
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.
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’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.