Hurricanes
Munich Re expects 'triple-digit million euro' losses from Beirut blast and recent hurricanes
Munich Re expects its losses from August’s warehouse explosion in Beirut and a trio of recent North Atlantic hurricanes to both reach “low triple-digit million euro” sums.
Editor's comment: Year of action on climate change
While pandemics have been predicted for some time it’s fair to say not many people had foreseen an almost global lockdown, a workforce at home and a virus that affects every walk of life.
Hurricane Laura insured loss estimates range from $4bn to $12bn
Early estimates of the insured losses resulting from Hurricane Laura range from $4bn to $12bn, with the damage concentrated in southern Louisiana.
Future Focus 2030: The climate change podcast
It is the year 2030. The focus on climate change continued to gather momentum throughout the 2020s. But despite pressure to bring the date forward the UK government is still committed to helping reduce gas emission to net zero by 2050.
Updated: Over one million homes at risk as Hurricane Laura brings ‘unsurvivable’ storm surge to US Gulf Coast
Hurricane Laura, which made landfall in Louisiana early this morning as a category-four storm, has the potential to impact 1.1 million homes worth $265bn in terms of reconstruction cost value, according to Core Logic.
Blog: Advising cruise ship owners in a Covid-19 enforced shutdown
The current pandemic has hit the cruise liner industry hard with countless ships sitting unused around the globe. Royston Ford, strategic portfolio manager for marine at RSA, explains how technology is helping insurers to keep ships insured and out of…
Post Magazine celebrates 180th birthday
This weekend Post Magazine celebrated its 180th birthday given the first issue appeared on Saturday 25 July 1840.
180 years: Hurricanes in history
PREMIUM: The insurance industry has suffered very large losses from natural disasters over the past two centuries and this still remains a problem today, with 409 natural catastrophe events totaling $232bn in losses in 2019. Post looks at some of the…
Covid-19 will cost insurance industry $203bn, says Lloyd's
Lloyd’s of London has forecast that Covid-19 will cost the insurance industry $203bn (£166bn) in underwriting and investment losses, putting the pandemic on a par with century’s most catastrophic hurricane seasons.
Blog: Ciara and Dennis - building resilience in the eye of the storm
Over the past few weeks, winter storms Ciara and Dennis swept across Ireland, the UK and Central Europe, bringing with them hurricane-force wind gusts and major flooding writes Simon Welton, Swiss Re’s market head for property and casualty for UK and…
Analysis: Closing the natural catastrophe protection gap
Though losses from natural catastrophes fell in 2019, the proportion of losses that were uninsured rose to a three-year high. Post investigates why.
Ardonagh explains carrier cull and alternative capital plans in APS roll out
Ardonagh has cut its carrier relationships from 940 to 700 in the past six months with an eventual target of below 200, Paul Dilley, CEO of Geo Underwriting told Post.
Top 30 Asia Insurers: A volatile year
2018 was a volatile year for Asian insurers with the majority of them posting declines in gross written premium or sluggish growth. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, explains the challenges they are facing.
Hiscox reserved $165m to cover Dorian, Faxai and Hagibis claims
Hiscox has reserved $165m to cover claims from Hurricane Dorian and Typhoons Faxai and Hagibis, while reporting it expects to see fees and profit commissions dip $25m this year.
Swiss Re suspends share buy-back programme as nat cats bite
Swiss Re has cancelled a share buy-back programme, following a hit from natural catastrophes, capital deployment and the suspension of Reassure's initial public offering.
Analysis: How far has the insurance industry evolved to respond to natural catastrophes?
Sedgwick loss adjusters arrived on Great Abaco Island in the wake of Hurricane Dorian aboard a Black Hawk helicopter on 6 September.
2018 catastrophe loss levels are the new norm: Air Worldwide
The industry can expect to be hit with on average $92bn (£74.5bn) in insured losses from catastrophes annually going forward, according to catastrophe modeling firm Air Worldwide.
Hurricane Dorian estimated to have inflicted $7bn of damage in the Bahamas
Hurricane Dorian inflicted $7bn (£5.7bn) worth of insured and uninsured damage in the Bahamas, catastrophe modelling firm Karen Clark & Company has estimated.
Insured losses from Hurricane Dorian estimated to top £20bn
Hurricane Dorian could inflict insured losses of up to $25bn (£20.7bn), according to analysts at UBS.
Analysis: Managing ‘unthinkable risks’
The insurance industry has become progressively familiar with the idea of ‘unthinkable risks’ in recent years as unpredicted and unprecedented losses, caused by both natural catastrophes and man-made events, have continued to happen
Lloyd’s hit with £1bn loss in 2018
Lloyd’s of London was slammed with another vast loss in 2018, following on from its £2bn loss in 2017.
British Insurance Awards: Major loss - 25 years of going the extra mile
Insurance is only really tested at the point of claim and over the past 25 years the British Insurance Awards have celebrated the industry’s efforts to return the customer to where they were before the claim. Since 2003 major loss has been a standalone…
Q&A: Luke Exford, CILA
Luke Exford has replaced John Evans as president of the Chartered Institute of Loss Adjusters. He spoke to Post about how the body maintains standards amid technological change.
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…