Natural catastrophes (Nat Cats)
Market looks to politicians to overcome Dutch flood stalemate
The Dutch Minister of Infrastructure and Environment plans to intervene in the flood debate raging in the Netherlands in a bid to overcome the current stalemate.
Costs of Australia's disasters could triple by 2050
Costs of natural catastrophes in Australia could rise from A$6.3bn to A$23bn by 2050 as population density and storms increase according to a new white paper.
German floods could cost insurers €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn, according to catastrophe modeller AIR.
Heavy rain death toll rises in India
Earlier than usual monsoon rain has killed at least 70 people in India, with the north of the country the worst hit.
Competition watchdog says Dutch flood proposals are anti-competitive
The Netherlands’ Consumer & Market Authority has delivered a blow to plans to make flood coverage mandatory from January 2014, saying the proposals violate competition law.
Disaster model released for German floods
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods.
Airmic 2013: Language shift needed to raise supply chain awareness says FM Global
Risk managers need to overcome “misleading terminology” that leads company directors to underestimate their natural catastrophe exposure, according to Stefano Tranquillo.
Deadly May tornado season in US results in huge losses
Record breaking tornadoes and hail in the US caused billions of dollars of damage and many fatalities in Oklahoma and Texas in May.
Cyclone Mahasen destroyed over 100 000 homes
Over 130 000 poorly constructed homes in Bangladesh were destroyed by the powerful cyclone in May.
May US storms to cost insurers $4bn: Aon Benfield
Storms which ravaged the US through May are likely to cost the insurance sector as much as $4bn according to Aon Benfield’s cat model centre.
“Significant damage” expected from devastating European floods
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
Property Claims 2013: Insurers told to go Down Under
Insurers could boost the industry’s reputation by imitating the Australian model of working closer together to tackle catastrophic claims surges, according to John Pyall, head of Munich Re’s Great Lakes facilitated claims unit.
Limited damage expected from Taiwan earthquake
Catastrophe modeling firm AIR Worldwide is not expecting significant insured losses from yesterday's earthquake as it happened in a rural area with little insurance coverage.
Lack of cat data generating "flawed" models: Marsh
Insurers are spiking premiums where businesses are generating “flawed” modelling because of limited information on supply chain and property risk exposures, according to Marsh.
Severe flooding hits Central Europe
Authorities in Central Europe have declared states of emergency after severe flooding hit cities across the region.
Taiwan earthquake kills two
A 6.3 magnitude earthquake in central Taiwan has killed two people and injured over 20 more.
Floods hit Mexico's Pacific coast following Barbara landfall
Excessive rainfall and flooding have hit some areas of southeastern Mexico after hurricane Barbara made landfall near the state of Chiapas on Wednesday.
Eqecat and RMS finalise data sharing scheme
Rival catastrophe modelling firms Eqecat and Risk Management Solutions have finalized an agreement to share exposure data schemas.
RMS estimates Oklahoma losses could reach $3.5bn
Risk Management Solutions has put insured losses from the Moore, Oklahoma tornado at $2bn to $3.5bn.
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Intense hurricane season warning for US
Insurers have been warned that above-average hurricane activity is on the way for the period between 1 June and the end of November.
Forecasters predict high hurricane levels as Oklahoma reels from tornado
‘70% chance’ of above-average hurricane activity between July and November
Insurance can support economic development in MENA region says Zurich
Insurance can promote economic development, create jobs and boost trade across the Middle East and North Africa region, a new report by Zurich has claimed.
Philippines wins disaster recovery award
The Philippines has won an award from the Arabian Travel Market for successfully bouncing back from the devastation of typhoon Bopha (or Pablo) in December 2012.