Natural catastrophes (Nat Cats)
Loss adjusters ready for Scotland storms
Loss adjuster Cunningham Lindsey is on standby to deal with the storms forecast to hit Northern England this afternoon.
Munich Re puts €500m on Thai floods
Munich Re has estimated that the Thai floods will cost it €500m net before tax, but warned the figure could be higher.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
French floods to cost insurers €800m
The November floods in 16 regions of France look set to cost insurers €800m according to a new report.
Study exposes supply chain risks in China
A study commissioned by FM Global revealed a natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply chains, given the country’s critical role in global manufacturing.
Study reveals supply chain risks in China
A study commissioned by FM Global revealed a natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply chains, given the country’s critical role in global manufacturing.
Swiss Re estimates Thai losses at $600m
Swiss Re estimates its claims costs from the flooding of 1500 industrial units in Thailand to be $600m, net of retrocession and before tax.
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.
China’s P&C growth behind average
Reinsurance broker Aon Benfield says China’s property and casualty insurance growth has been too slow.
Hurricane season to cost $5bn
It is estimated that the 2011 Atlantic hurricane season will cost in the region of U$5bn, according to Risk Management Solutions.
Emerging markets look set to grow in 2012
Despite growth slowing in 2011 emerging markets will remain “reliable growth engines” in the global insurance markets in 2012, according to reinsurer Swiss Re.
Thai floods lead Singapore Lloyd's Syndicate to close to new business
Singapore-based Lloyd’s Syndicate 1965 will no longer be accepting new business following the Thai floods.
Buyers queue up for Thai flood-hit Hardy
Hardy Underwriting has said it has had several preliminary expressions of interest in its business after putting itself up for sale following catastrophe losses from the Thai floods.
HBL lowers offer for cat-hit Omega
Omega bidder Haverford has confirmed that it has cut its offer for 25% of the troubled Lloyd’s business to 74p per share.
Review of the year - Loss adjusting: Ups and downs
2011 was another rollercoaster ride in the loss adjusting sector, with claims surges, criticism from insurers, struggles with recruitment, and mergers and acquisitions.
Montpelier: Reinsurance rates likely to rise
The reinsurance industry has suffered an “unusually high frequency” of international catastrophes and rates could rise by 10% next year, according to Montpelier boss Tim Aman.
AIR joins with Intermap for European cat modelling
AIR Worldwide has entered into an agreement with Intermap for it to provide high-resolution elevation data to be used in the development of new catastrophe models for select European countries.
Thai flood supply chain losses could reach $20bn
The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best.
View from the top: The challenge to keep it cold
Global warming presents unique challenges for the industry, says David Weymouth.
EU and FEMA agree on risk reduction and disaster response
The European Union and the US Federal Emergency Management Agency have signed an agreement to cooperate on disaster management and emergency response.
Hotter, wetter and windier weather poses a threat to insurers
The Inter-governmental panel on climate change has identified rising temperatures, heavier rain and stronger winds as threats to insurers.
Keeping pace with the evolution of risk
In the last 18 months, risk managers have faced a complex set of challenges.
Kiln reports 2009 is on track, but 2010 outlook is bleak
Kiln has revealed its 2009 year of account is on track to deliver ‘excellent’ returns, but the unprecedented level of catastrophe activity and reduced investment income has left its 2010 year of account depressed.