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.
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.
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.
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).
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.
Brisbane-headquartered financial services group Suncorp saw mixed results in its two key insurance markets for the full year ending 30 June.