Natural catastrophes (Nat Cats)
Post Blog: When Greg met Sandy
As superstorm Sandy created havoc across the eastern seaboard, Greg Gladwell, CEO UK & Ireland at Crawford & Company, found that his holiday in New York was not going to plan.
US firms hit by Sandy could face claims battle
Business losses triggered by superstorm Sandy are expected to be exacerbated by the fact that few firms have policies to cover loss of income when their operations are disrupted by a supplier’s poor fortune.
Firms unprepared for Sandy BI losses, Willis' Texeira warns
Hurricane Sandy could cost insurers between $5bn and $10bn, according to a report in The Wall Street Journal, while Bloomberg reports that the hurricane's toll is poised to cause $20bn worth of "economic damage".
Post magazine - 1 November 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Caribbean cat risk report issued on Sandy
The Caribbean Catastrophe Risk Insurance Facility has issued a risk report after two of its members, Jamaica and the Bahamas, were hit by tropical cyclone Sandy.
GC develops industrial park database after Thailand losses
Guy Carpenter has developed a database of industrial estates in China, Taiwan, Thailand and Indonesia to help clients identify and evaluate potential risks in the region.
Sandy could cost insurers $15bn
Insured losses from storm Sandy to properties in the US are expected to be between $7bn and $15bn, according to catastrophe modeling firm AIR Worldwide.
"Largest Atlantic hurricane on record" could bring losses of up to $15bn, warns AIR
Insured losses from Sandy to onshore properties in the US will be between $7bn and $15bn, AIR Worldwide has estimated.
Storms and strikes among biggest concerns for insurers
Catastrophic acts of violence, mining strike contagion, unexpected 'perfect storms' and a nation paralysed by cyber terrorism are among the biggest risks facing the insurance industry, according to Willis Group.
Sandy wreaks havoc in New York subway
The New York subway faces unprecedented challenges after flooding caused by post-tropical cyclone Sandy.
Insurer stocks dipped ahead of Hurricane Sandy landfall
Stocks for European insurers, including Allianz SE and Zurich Insurance Group, fell on Monday as the US prepared for Hurricane Sandy, which is expected to cause $5bn-$10bn in insured losses, according to modelling firm Eqecat.
Guy Carpenter probes causes of Thailand flood losses
Guy Carpenter has published an in-depth review of the meteorological and man-made factors that contributed to the 2011 Thailand flood catastrophe and resulting insured losses, estimated at between $15bn and $20bn.
Aon Benfield launches Thailand flood model
Global broker Aon Benfield has launched a flood model for Thailand to help global insurers better understand their exposures in the region.
US homeowners batten down the hatches as Hurricane Sandy nears
Risk modelling experts predict mass damage to properties and widespread power outages across New York City when Hurricane Sandy hits the east coast of the US today.
Europe's climate change risks in the spotlight
Natural catastrophes and disasters are an important area of research and development in the insurance world, says BrokersLink's Paul Bitner.
Aspen insurance segment drives GWP growth
Aspen has reported a 12.7% increase in gross written premium in the third quarter to $558.4m, the majority of the growth resulting from a 36.2% increase in the insurance segment.
Editor's comment: Causing tremors in the industry
You don’t have to look far for evidence that a ‘blame culture’ is spreading in our society, but there are surely few examples as alarming as the manslaughter convictions of six Italian scientists who failed to predict that a deadly earthquake would…
Asia View from the Top: Are we ready for a perfect storm in China?
The recent development trend in the insurance market in China has generated new challenges for the insurance market. But by no exaggeration, it could be a 'perfect storm' to reshape the industry.
Hiscox appoints head of catastrophe research and two trainees
Hiscox has appointed Dr Richard Dixon as group head of catastrophe research, and expanded the London Market reinsurance team with two recruits.
Hiscox names catastrophe research lead
Hiscox has swooped to appoint a group head of catastrophe research, as well as adding two to its Lloyd's non-marine team.
BrokersLink offers supply chain risk advice
International broker network BrokersLink has launched a supply chain risk management service for its members.
Indonesia or bust?
Indonesia offers considerable opportunities for foreign insurers, but the market is not without challenges.
Italy - land of opportunities
Recent research shows that car insurance in Italy costs five times the European average, underinsurance is rife and the government is scaling back on its intervention. Liz Booth investigates whether there are any opportunities for foreign insurers.
Risk managers urged to heed climate change
The human impact on the environment has been a major factor in a quintupling of weather-related loss events in North America during the past three decades, according to Munich Re.