Natural catastrophes (Nat Cats)
No material impact on insurance sector from Icelandic volcano – Moody’s
The Eyjafjallajökull volcano in Iceland erupted causing a significant disruption for those individuals and businesses reliant on air travel, however, the extent to which the insurance industry will cover losses incurred from this disruption is expected…
Tornado causes devastation in Mississippi
A tornado nearly a mile wide ripped through central Mississippi on Saturday, killing 10 people, including three children, and injuring dozens of others, state authorities said.
Allianz' legal helpline reveals employers' ash concerns
Allianz Legal Protection’s 24hour legal helpline has fielded a number of calls from employers with questions relating to the treatment of employees caught up in the Icelandic Volcano eruption.
Travelers Q1 profit hit by cat claims
US property insurer’s first-quarter profit dropped 2.3% as the cost of its catastrophe claims increased more than fivefold.
Second Icelandic eruption could cause mortality risk - RMS
The recent eruption could trigger a larger eruption of nearby volcano Katla, which could pose a significant morbidity and mortality risk, according to RMS.
Munich Re places North Carolina cat bond
Munich Re has placed a catastrophe bond to cover two North Carolina insurance groups' hurricane exposures.
Reinsurance market could turn this year – Lockton Re
Lockton market update report notes that the reinsurance market may be on the brink of a new shift in cycles despite strong 2009 reinsurer results.
Reinsurers face tough times in soft market – AM Best
AM Best’s global financial review of reinsurance notes US taxation and underwriting discipline amongst the major challenges to be faced by reinsurers
Catastrophe losses have no impact on April renewals: Aon Benfield
Reinsurance rates continued softening trend at April 1 renewals according to the report from the broking giant
Catastrophe claims will hit reinsurers’ Q1 results hardest: Willis Re
Willis Re’s April renewals report says $16bn catastrophe tab to make the first quarter of 2010 the worst ever for natural peril losses.
Lloyd's FD: Solvency II no bar to new entrants
Lloyd's has stressed that it has no plans to batten down the hatches and stop admitting new members as the deadline for Solvency II approaches.
Catastrophe rates to rise - Allianz Re
The earthquake that struck Chile last month may help boost rates for catastrophe reinsurance this year, Clemens von Weichs has said.
CCRIF wants more coverage
The Caribbean Catastrophe Risk Insurance Facility is urging its international donor partners for assistance to enable it to step up the coverage available to member countries.
Montpelier Re reports up to $100m losses from Chilean earthquake
Reinsurer Montpelier Re has announced a preliminary pre tax losses of between $75m (£49m) to $100m from the earthquake in Chile.
Hiscox faces £100m Cat losses
Hiscox has estimated that it faces £100m worth of claims as a result of the Chilean earthquake and the European windstorm Xynthia.
Hiscox faces £100m Cat losses
Hiscox has estimated that it faces £100m worth of claims as a result of the Chilean earthquake and the European windstorm Xynthia.
Cooper Gay: Chilean earthquake most expensive in Latin American history
The recent earthquake in Chile could be the most expensive insured event in Latin American history, Cooper Gay has claimed.
Chile hit by two major aftershocks
Chile has been hit by two aftershocks from the 8.8 magnitude earthquake that struck of its coast less than a fortnight ago.
RMS predicts insured losses from Xynthia could rise to €2bn
Risk Management Solutions has estimated that private market insured wind losses from Windstorm Xynthia will fall between €1.0bn and €2.0bn.
RMS predicts insured losses from Xynthia could rise to €2bn
Risk Management Solutions has estimated that private market insured wind losses from Windstorm Xynthia will fall between €1.0bn and €2.0bn.
Munich Re boss confident of €2bn profit in 2010 despite early losses
Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year.
Munich Re boss confident of €2bn profit in 2010 despite early losses
Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year.
Transatlantic costs for Q1 catastrophe events up to $90m
Transatlantic agrees to purchase 2m shares from AIG and announces preliminary cost estimates for first quarter 2010 catastrophe events which have occurred to date.
The risk of volcanoes
Though rare events and to some extent predictable short term, volcanoes nonetheless present a grave risk to life and property in developing nations and major metropolitan centres alike, writes Tim Evershed