Natural catastrophes (Nat Cats)
'Unsettled' weather not over, RMS warns
The industry has been told to brace itself for further wet weather after a weekend of rain affected festivals and the Silverstone racing event in Northamptonshire.
UK faces ongoing flood risk after wettest April to June on record
Further flooding affected the UK during the weekend of 6 and 7 July following outbreaks of exceptionally heavy rainfall.
Flash floods in Russia kill 170 and cause severe damage
At least 170 people were killed when flash floods hit the Krasnodar region of southern Russia on 6 July after excessive rainfall.
Novae Re exodus to damage reinsurance book
The resignations of the chief executive of Novae Re’s Zurich operation Gunter Saacke, chief underwriting officer Will Schuerch and 10 underwriters have sparked concerns that the insurer cannot retain business written by certain divisions.
Challenging conditions for loss adjusters in the wake of 2011's nat-cats
Difficulty sharing information, lack of access to affected areas and cultural differences hampered loss adjusters in the aftermath of 2011's devastating natural disasters, according to industry insiders.
Rate hardening slows in second quarter
The global insurance market hardened in Q2 2012 for the fourth consecutive quarter, albeit at a slow rate, according to Marsh.
Market firming continued in Q2, says new Marsh index
The global insurance market continued to firm in the second quarter of 2012 continuing a trend that began in the third quarter of 2011, according to the Marsh Risk Management Global Insurance Index released today.
View from the top: Call for creative collaboration
As priorities for business change, insurers must make sure they do not become irrelevant, says Andrew Horton.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Losses from Typhoon Guchol expected to be under $500m
Insured losses from Typhoon Guchol are estimated to be less than $500m, according to catastrophe modelling firm Eqecat.
Aon estimates €5bn loss from Italian quake
The magnitude 6.0 earthquake in Italy's Emilia-Romagna region last month caused an estimated €5bn in economic losses, according to Aon Benfield's monthly global catastrophe report.
Damaging aftershocks hit northern Italy
Two damaging aftershocks, a magnitude 5.8 followed by a magnitude 5.4, occurred on 29 May in Italy's Emilia-Romagna region, which experienced a magnitude 6.0 earthquake on 20 May.
Second quake strikes north west Italy
At least eight people are reported to have died after the second significant earthquake in nine days struck northern Italy on Tuesday afternoon.
Near norm Atlantic hurricane season predicted
Hurricane activity in the 2012 Atlantic season is likely to be close to the long-time norm values, but 10-40% below the norm values for the past 10 years, according to a forecast by Tropical Storm Risk.
Two hurricanes predicted to strike US in 2012
Hurricane activity this season is expected to be close to average, with scientists predicting four tropical storms including two hurricanes to strike the US between June and November.
Italy quake: Low level of insurance claims expected
The insurance industry has avoided significant losses from the 6.0 magnitude earthquake that hit northern Italy on Sunday morning due to low take-up of personal property cover in the area.
Kiln forecasts profits in non-aligned syndicates for 2010 and 2011 accounts
R J Kiln & Co has forecasted profits for its four non-aligned syndicates with catastrophe losses for the 2010 and 2011 years of accounts.
China is world's worst for flood risk
China has been ranked as the world's top flood risk zone in a report by Swiss Re, ahead of fellow emerging economies Brazil, Rusia and India, The Taipei Times reported.
Fitch backs Lloyd's emerging markets expansion
The Lloyd's insurance market's planned expansion into emerging markets is a net positive, despite the additional risk carried by writing business outside established markets, Fitch said today.
Benign weather and rate rises result in record reported profits for insurers
Insurers have reaped the rewards of benign weather and rate rises in catastrophe hit regions, but analysts warn the worst could be yet to come.
Ace launches mapping tool for catastrophe and supply chain exposures
Ace and Willis Re Analytics have launched the Ace Cat Web platform to help companies evaluate their catastrophe exposures, as well as those of their suppliers and customers.
Lloyd's: Can the market fully recover from the losses in 2011?
Lloyd's' market performance and underwriting discipline has long been praised by the industry but, after the near unprecedented losses in 2011, many are wondering whether it can fully bounce back.
'Significant' loss will harden rates outside cat exposed regions in July renewals
Price increases in the July reinsurance renewal period could be restricted to loss-affected sectors unless there is a further significant insured loss for the industry, Fitch Ratings has said.
Insurance Insight - Fueling growth
Recent deals struck in Asia by the likes of Axa, QBE and Catlin, looking to expand their footprints in the region, have highlighted the insurance industry's growing activity in the continent, and so, we take a closer look at the markets here and ask what…