Natural catastrophes (Nat Cats)
Market losses support improvements to flood and windstorm database
Catastrophe insurance data provider Perils has updated the property sums insured exposed to UK flood as part of an update to its Europe Industry Exposure Database.
The Thai flood: Two years on
The size and scale of the floods in Thailand in 2011 came as a shock to many despite the fact it was a flood prone area. Andrew Tjaardstra discovers how shock waves are still being felt and how risks are being reassessed.
Earthquake insurance premiums to rise 15% in Japan
The Non-Life Insurance Rating Organisation of Japan has recommended to raise average earthquake premiums for buildings by 15.5% in July 2014.
Savage upbeat on motor market outlook
Lloyd's finance director said the UK motor insurance market is "over the worst of the soft cycle" and has expressed confidence that upcoming government reforms will further improve the sector's outlook.
Sandy topped 2012 losses while Italy saw record earthquake damage
A rare series of Italian earthquakes caused insured losses in excess of $1.6bn in 2012, the highest ever recorded in the country, according to Swiss Re.
Lloyd's profit hits £2.8bn after lower cat losses
Lloyd's has reported a 2012 pre-tax profit of £2.77bn following a loss of £516m in 2011.
View from the Top: Time is running out
With agreement on the future of flood insurance still out of reach, the government must pick up the pace, says Bronek Masojada.
FM Global shrugs off Sandy
Property and casualty insurer FM Global secured a profit of $774m in 2012 and a COR of 85.7% despite 2 200 claims from superstorm Sandy.
Drought continues in New Zealand
New Zealand has been suffering from an unusually dry summer with little rainfall.
Disaster management initiative starts in Australia
The University of Melbourne, IBM and Australia's national research centre NICTA are developing the Australia Disaster Management Platform to help co-ordinate disaster rescue efforts.
Australia government report recommends no subsidies for property insurance
An Australian government advisory report will help protect communities from extreme weather says Insurance Council of Australia CEO Rob Whelan.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Drought frequency has doubled in two decades, says Munich Re
According to Munich Re, droughts have become far more common in recent years.
Zurich unveils Red Cross flood alliance
Zurich Insurance Group has formed a CHF 21m five-year alliance with the International Federation of Red Cross and Red Crescent Societies.
View from the Top: There may be trouble ahead
A catalogue of natural disasters in recent times have been pushing our industry’s bottle to the brink, says Peter Hubbard.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days
Jakarta braces for more floods
Emergency authorities in Jakarta are preparing for more flooding as water reached very high levels at a major dam.
Amlin returns to profit after £141m Sandy claims
Amlin has posted a pre-tax profit of £262.2m for the year ending 31 December, swinging into profit after a £193m loss in 2011.
Lancashire leads pack with "thumping" 2012 result
Lancashire’s 2012 results place it “firmly at the front of its peers in terms of underwriting delivery and return of capital”.
Rusty insured losses unlikely to be significant: AIR
Tropical cyclone Rusty will not generate significant insured losses according to catastrophe modeller AIR Worldwide.
AIR Worldwide issues Cyclone Rusty update
Cyclone Rusty makes landfall but so far there has been little damage, although flooding is expected, according to catastrophe modeling firm AIR Worldwide.
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
RMS appoints former Apple marketing boss as chairman
Catastrophe modeller Risk Management Solutions has appointed a new chairman to replace Martin Morgan, chief executive of parent Daily Mail and General Trust.
Financing the growing costs of disasters
Reto Schnarwiler, head of global partnerships for Swiss Re, Americas and EMEA says that a lack of insurance and the growing costs of disasters are hitting individuals and governments hard. He explores how government partnerships with insurers can help…