Flooding
Penny Black's insurance week
Penny was uncertain as to how her colleagues would fare when they turned their hands to cocktail-making at an Ace Europe masterclass in the City.
In Series - Geography & Solvency II: What are the risks for insurers?
With the implementation of Solvency II looming, Sam Barrett asks if insurers are forgetting to look inwards at the risks their own companies face.
Ex-flood chief warns UK could face Oz-type disaster
Investment in defences needs to be ongoing or the UK could face a situation as devastating as the recent flooding in Australia.
In Series - Geography & Solvency II: Using geographic information for contingency plans
Dr Marc Hobell explains how geographic information can help managers with contingency plans if an incident occurs.
RSA embroiled in legal row over ‘new credit hire’ – Insurance News Now – 17 February 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories including how RSA has become embroiled in a legal spat with Provident over subrogated motor repair costs.
Claims Club news: Industry to take active role in the PAS 64 review
The Association of British insurers is to take an active role in the recently announced review of the standard for repairing flooded property — PAS 64 — after it was highlighted as an action point by one of the trade body's working parties.
In series - Geogaphy & Solvency II: National geographical risks
With 80% of business data having a geographical element, Sarah Adams looks at the way this insurers can improve their data.
APPG - 20 years in force: Representation for the industry
With its 20th anniversary just passed, David Worsfold looks at the success of the All Party Parliamentary Group on Insurance & Financial Services, detailing some key highlights from two decades of debate.
Claims Club news: Extra capacity demands place pressure on loss adjusters
The big freeze over the winter of 2010/2011 is the latest event to raise the issue of how loss adjusters and other service providers find extra capacity to meet insurer and policyholder demands.
Claims Club news: ABI rules out centralised flood response body
The Association of British Insurers is poised to reject the concept of having a centralised response to surge events, which could have seen streets allocated a specific loss adjusting firm to moderate claims.
Markel plays down losses from antipodean disasters
Markel International does not expect its future profits to be badly affected by the New Zealand earthquake and recent Queensland flooding, after previous catastrophe events added six points or $33m (£20.5m) to its 2010 full-year combined ratio.
Cyclone Yasi insured losses could reach A$1.5bn
AIR Worldwide has estimated the insured losses from Cyclone Yasi at between A$350m and A$1.5bn.
QBE reveals $245m weather hit, but profit in line with expectation
QBE has announced that its 2010 net profit after tax in line with market expectations after a record underwriting profit but a lower insurance margin from continuing low interest yields in the US and UK.
In series - Geography & Solvency II: Advice on getting data right
For the majority of insurers and to a certain extent brokers, data quality has consistently been an issue with reasons ranging from the ongoing problems of legacy systems to basic human error, as Sarah Adams explains.
In series - Geography & Solvency II: Accurate data is key to Solvency II requirements
The need for more accurate data and improved infrastructure is occupying insurers' Solvency II teams. However, Sam Barrett finds that UK firms are well prepared when it comes to accuracy of information.
Flood-ravaged Queensland braces for cyclone Yasi
Queensland Australia is bracing itself for Yasi. According to catastrophe modelling firm AIR Worldwide, the cyclone was about 1630 kilometers east northeast of Mackay and moving west at 30km as of the Australia’s Bureau of Meteorology 11:00 EST advisory.
Australian floods expected to cost A$4-A$6bn
Espirito Santo Investment Bank has said the Australian floods will amount to at least two events, and given the mounting political pressure on the local primary insurers the burden for the local primaries is likely to be much more punishing than the…
RSA expects 2010 profit to be at least £600m despite 2.4pt COR weather hit
RSA expects to show net written premium growth of 11% to £7.46bn, a COR of between 96.5% and 97.0% and an operating profit of between £600m and £630m in its 2010 full year results.
Suncorp claims hit 10 000
Suncorp expects to have eroded between A$220m (£137m) and A$240m of retained costs under its aggregate reinsurance programme as a result of the Australian floods, as well as other natural hazard events during 2010.
Postscript - 15 years ago: East coast floods see death toll rise
Looking back through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 15 years ago reveals.
RSA joins forces with WWF to call for sustainable drainage
RSA has called for an increase in sustainable urban drainage systems to combat the growing effects of climate change.
Damage management - Winter freeze: Preparing for problems in the frozen pipeline
With property claims surging due to the recent cold snap, Rachel Gordon looks into the specific challenges thrown up by freezing conditions for those tasked with managing the damage.
Direct Line unveils mobile flood support vehicle
Direct Line has launched a new flood support vehicle – incorporating an office and meeting space, developed to help policyholders affected by extreme weather.
Flash Flooding in Brazil causes devastation
Torrential rain has brought flash flooding and mudslides to the Brazilian state of Rio de Janerio, resulting in damage to property and infrastructure and the deaths of at least 450 people.