Earthquakes
Japan to set up Asian nat cat insurance plan
Japan is planning to establish a large-scale insurance system encompassing the Asia-Pacific region to cover developing countries hit by devastating earthquakes, typhoons and other disasters.
New Zealand market in “state of transformation”
New Zealand’s non-life insurance market is in a state of transformation as it grapples with prolonged earthquake activity in addition to regulatory developments, a new special report from AM Best has found.
Earthquake magnitude 6.9 hits Peru
A magnitude 6.9 earthquake occurred near the coast of central Peru on Saturday at 18:54 UTC (1:54 pm local time)according to catastrophe modeling firm AIR Worldwide.
Munich Re receives A+ (superior) rating
Munich Re has had its financial strength rating affirmed of A+ (Superior) and issuer credit ratings of “aa-” along with its subsidiaries.
Editor's comment: Maelstroms on multiple fronts
This week has seen maelstroms on multiple fronts. As the devastation and mass fatalities caused by the Turkish earthquake continue to dominate news headlines, the insurance industry is bracing itself for a different bout of turmoil prompted by another…
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Wide ranging losses predicted following Turkish quake
Insured losses from the magnitude-7.2 earthquake in eastern Turkey could be anywhere between $55m and $170m, according to catastrophe modeling firm Air Worldwide.
Earthquakes call into question building code enforcement in Turkey
The Turkish government introduced new construction codes following the 1999 earthquake, but there are fears these may not have been enforced.
Turkish Catastrophe Insurance Pool only covers 7% of homes in earthquake zone
The Turkish Catastrophe Insurance Pool has low penetration in the Van region, which was hit by an earthquake this weekend, according to RMS.
Turkey quake to cost as much as $200m
Catastrophe risk modelling firm Equecat has said the insured loss estimate for the 7.2 magnitude earthquake in eastern Turkey is in the range of $100m to $200m.
Turkey earthquake was 7.2 magnitude
Damage reports are still emerging after a magnitude 7.2 earthquake struck eastern Turkey on Sunday.
France and Japan largest purchasers of cat reinsurance
France and Japan are the largest purchasers of excess of loss per event treaties according to a new report by Aon Benfield.
New Zealand insurers continue to reject business
The number of insurers rejecting new business amid ongoing seismic activity in Christchurch is escalating rapidly, according to an expert from Fitch Ratings in Australia.
Japan - Post-earthquake: Aftershocks of the earthquake
New insurance legislation in Japan is set to be extensively tested six months after the devastating earthquake and tsunami that hit the country.
New Zealand faces mass withdrawal as earthquake claims stack up
Insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
NZ faces mass withdrawal as earthquake claims stack up – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including the possibility that insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
Zurich stops writing NZ earthquake cover
Zurich New Zealand will no longer write any new earthquake cover following the catastrophes in Canterbury and Christchurch in February.
Ecclesiastical stops NZ quake cover
Ecclesiastical is to cease writing earthquake cover in New Zealand following the devastating series of earthquakes in Christchurch which contributed to the insurer’s biggest ever losses.
Top 100 UK insurers supplement - AM Commentary: An uphill struggle
With earnings down, falling reserves and diminishing returns on investments, the tough times continue for UK non-life insurers.
Earthquake hits India
A magnitude 6.9 earthquake occurred in the region of Sikkim, India, on 18 September.
Earthquake hits India
A magnitude 6.9 earthquake occurred in the region of Sikkim, India, on 18 September.
AIR Worldwide links with Trillium to provide geocoding to insurers
AIR Worldwide and Trillium Software have reached an agreement to provide more precise geocoding.
AIR updates European wind and earthquake CAT models
Catastrophe risk modeling firm AIR Worldwide has released updates to its Extratropical Cyclone and Earthquake Models for Europe.
Catastrophe poll result
Find out if the market voted for government to be the fund of last resort in catastrophes?