Hurricanes
Cyclone Marcia claims rise above A$400m
Claims from Cyclone Marcia in Queensland have risen above A$400m (£207m).
Marcia makes Suncorp exceed natural catastrophe provision
Australian financial services group Suncorp has said Cyclone Marcia will cost its insurance arm at least A$120m (£61m).
Claims rising from Cyclone Marcia
So far almost 9000 claims have been lodged in Queensland as a result of last weekend's Cyclone Marcia according to the Insurance Council of Australia.
Hiscox reports solid Q3 statement with broadly flat GWP
Hiscox has reported a slight dip in gross written premiums of £1.36bn (2013: £1.37bn) for the first nine months of the year to 30 September and claimed a disciplined approach in reinsurance was offset by steady growth in insurance lines.
Business interruption: Business, interrupted
Increased data availability may have transformed business interruption cover, but the sector still has much work to do in improving communication, clarity and policy wordings
Hurricane Gonzalo to cost insurers up to £250m, says AIR
Hurricane Gonzalo could result in up to $400m (£250m) of insured losses according to catastrophe modeller AIR Worldwide, after landing in Bermuda on 17 October
NOAA raises likelihood of ‘below average’ hurricane season
The prospects of a below average Atlantic hurricane season have been increased in the latest forecasts from the US National Oceanic and Atmospheric Administration.
Hurricane Arthur losses less than £150m
Insured losses from Hurricane Arthur will not exceed $250m (£146m) according to a report from catastrophe modeller RMS.
Arthur damage likely minimal
Tropical storm Arthur is unlikely to deal significant damage to properties in North Carolina should it make landfall later this week, according to catastrophe modellers AIR Worldwide.
Tropical storm Arthur set to graze Florida
The first named storm of the Atlantic hurricane season will brush the Florida coastline later today, before strengthening near the end of the week.
Experts call for caution despite low level hurricane activity prediction
Hurricane activity in the Atlantic basin is projected by seasonal outlook providers to be near or below average for the 2014 season, according to Guy Carpenter’s latest hurricane season briefing.
IUMI Preview: Charting a course
With the sector suffering major losses, long-term sustainability is high on the agenda at this year’s International Union of Marine Insurance conference. Can the market navigate the choppy waters?
Storm surge cat bond issued for New York MTA
The first ever catastrophe bond for storm surge has been issued for the New York Metropolitan Transportation Authority, based on modelling from RMS.
RMS delivers risk analysis for storm surge catastrophe bond
Catastrophe modelling firm RMS has delivered risk analysis for a storm surge catastrophe bond to provide the New York Metropolitan Transportation Authority with $200m (£132m) storm surge protection.
Storm surge losses likely to be higher than wind losses in US
There is a 20% chance that storm surge losses will be greater than wind losses for any US hurricane that makes landfall, catastrophe modelling firm RMS has said.
US doubles supercomputer power for hurricane forecasting
US weathermen have been boosted by newly upgraded supercomputers capable of processing computer models on forecasts almost twice as rapidly.
Munich Re transfers Australian cyclone risk to capital markets
Munich Re transfers US hurricane and Australian cyclone risks to the capital markets
Floods hit Mexico's Pacific coast following Barbara landfall
Excessive rainfall and flooding have hit some areas of southeastern Mexico after hurricane Barbara made landfall near the state of Chiapas on Wednesday.
Forecasters predict high hurricane levels as Oklahoma reels from tornado
‘70% chance’ of above-average hurricane activity between July and November
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days
Financing the growing costs of disasters
Reto Schnarwiler, head of global partnerships for Swiss Re, Americas and EMEA says that a lack of insurance and the growing costs of disasters are hitting individuals and governments hard. He explores how government partnerships with insurers can help…
Argo is back in profit in 2012 despite $47.9m superstorm Sandy hit
International specialty insurer and reinsurer Argo has reported post-tax income of $52.3m for the year ending 31 December, recovering from a loss of $81.9m in 2011.
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).