Storm
Weather claims eat into Lloyds GI COR as income slips by £54m
Lloyds Banking Group’s general insurance business has attributed increased weather claims in the opening two months of the year to a decline in the unit’s combined operating ratio to 80% in the first half of 2014 (H1 2013: 69%).
Met Office raises UK storm warnings
The Met Office has increased its severe weather warnings for parts of the UK this weekend, calling on residents and businesses to be prepared for disruption.
Europe faces more than €2bn losses from June thunderstorms
An outbreak of severe thunderstorms in June caused over €2bn economic losses across Europe, according to Impact Forecasting, the catastrophe model development centre at Aon Benfield.
Perils revises Windstorm Xaver loss estimate up by €32m
Independent Zurich-based loss data provider, Perils has disclosed its third loss estimate for windstorm Xaver.
Winter storm claims total upwards of £2.1m for Cornish Mutual
Cornish Mutual has revealed the cost of claims following “unprecedented” storms earlier this year have topped £2.1m.
Black rain hits Hong Kong again
For the second time this year the Hong Kong Observatory has raised the black rain warning as thunderstorms hit the city on 8 and 9 May.
The calm after the storm
Not wishing to tempt fate, but the current respite from the deluge of rain and heavy winds seen at the start of the year has offered a moment to reflect on our immediate response to an unprecedented volume of storm claims, ranging from minor damage to…
C-Suite - Insurer: Why flood investment is needed
Flooding in the UK has highlighted the importance of a swift response to customers in need.
Trade Voice: Floods are a chance to prove ourselves
Joined-up thinking and a collaborative approach to assisting families and businesses affected by this winter’s floods has been a point of interest.
C-Suite - Insurer: A pat on the back for claims teams
The insurance industry should be proud of its handling of the UK’s wettest winter on record.
Insurers face £1.1bn floods and storm bill says ABI
Claims for flooding and storm damage this winter will see insurers pay out £1.1bn according to figures from the Association of British Insurers.
Household: On steady ground?
How is the household insurance market coping with the cost of claims from extreme weather events and the aggregator‑induced focus on pricing?
C-Suite - Insurer: Flooding issue will not drain away
Extreme weather is here to stay – the industry must adopt long-term measures to reduce property damage.
In Series: Data: A smarter approach to flood risk
How can the industry use increasingly sophisticated data to assess flood risk more accurately?
First quarter weather claims could be highest for 20 years says Deloitte
The storms and heavy rain in the first two months of this year may result in the highest number of first-quarter claims since the storms of 1990, according to Deloitte insurance partner James Rakow.
Insurers doubtful government will approve VAT waiver for flood repairs
Business secretary calls for VAT on flood renovation and repairs to be cut to 5%.
100mph winds forecast for North west England and Wales
The Met Office has issued its highest level warning for the first time this winter in response to forecasts of extremely strong winds in Wales and North west England.
Met Office warns of 'danger to life' across Southern England
The Met Office has issued 16 severe flood warnings in South west and South east England this morning, warning that water levels represent a danger to life in the regions.
UK floods tipped to cost industry close to £500m
PWC has estimated weather-related damage in December 2013 and January this year could cost the insurance industry up to £500m.
US January insurance storm claims hit $1.4bn
Catastrophe modeller Impact Forecasting said January's weather in the US cost insurers at least $1.4bn and economic losses of $3bn. Asia also saw its fair share of cold weather in January.
Windstorm Dirk losses estimated at €275m
Storms which rampaged across the UK and France from 23 December to 25 December are to cost insurers €275m, according to data from Perils.
Windstorm Xaver property losses were €680m, according to Perils
Perils, which provides catastrophe insurance data has released an initial loss estimate for December windstorm Xaver, which affected Western and Northern Europe, of €680m for insured property losses.
Europe: Construction firms rush for the emerging El Dorado
Emerging countries need, more than ever before, to dramatically improve their infrastructure systems in order to maintain their GDP growth rate.
Penny Black's Insurance Week
While Penny enjoyed snuggling down in front of the fire with a bottle of sherry and a big box of champagne truffles to watch Downton Abbey this Christmas, she was less obsessive about festive film viewing than the Towergate office, where one member of…