Natural catastrophes (Nat Cats)
Natural catastrophes: A model example of assessing earthquake exposure
Earthquake costs are rising steadily. Jane Bernstein examines insurers' current use of modelling, recent event responses and solution sustainability.
$50bn loss needed for reinsurance rates to rise, Flagstone Re chief warns
Reinsurance renewal pricing was down by eight per cent in the US, according to Gary Prestia, Flagstone Re’s chief underwriting officer for North America.
Cat bond market set for expansion
The market for catastrophe bonds grew in 2010 and will continue to expand this year, according to Munich Re.
Risk modelling - Underwriter responsibility: Model behaviour
Models have quickly become a valued tool for underwriters. Matthew Washington examines how the advent of Solvency II could really make them fly.
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.
Comment - Brokers & claims: Claims expertise - the future of broking?
2011 is shaping up to be tough for brokers. John Greenway argues claims expertise is an area ripe for differentiation and the best way to solidify client relationships.
QBE sells US subsidiary to Catlin
Catlin has acquired Blue Ridge Insurance Company from QBE Insurance Group.
Amlin revises NZ earthquake estimate
Insurer Amlin has revised its New Zealand earthquake claims estimate from $75m (£48.1m) to $160m.
Post Europe January: Exclusive major risk and IPT online content now live
Post Europe December is now live with a look at changes to the insurance premium tax rates across Europe, details of major losses in the Mediterranean regions last year and a review of how the Nordic region is dealing with corporate risks.
Post Europe: Major loss in the Mediterranean
Natural catastrophes across the Mediterranean made the headlines last year but fires are just as high risk for major losses as Jane Bernstein learns and European insurers also need to keep their eye on new and emerging risks.
Chaucer estimates $20m NZ earthquake exposure
Lloyds insurer Chaucer has increased its estimated exposure to the earthquake in New Zealand from $12.5m (£8m) to $20m.
Exclusive gender and risk assessment content now available on Post Europe
Post Europe’s last 2010 weekly update is now live with a look at the European Court of Justice’s decision on using gender as a risk factor will have on the insurance market, and a View from the Top that examines the importance of geographical data in…
Post Europe: The importance of geography
Geographical risk assessment has come on in leaps and bounds over the past 10 years. Insurers now have access to data across Europe that gives them the ability to pinpoint the locations of their insured risks better than ever before.
Government urged to take flood action
A group of MPs have told the government that more must be done to protect properties that are under threat from flooding.
China floods to have “limited impact” on insurers
The worst floods witnessed in China for more than a decade are unlikely to have a significant impact on the insurance industry, Guy Carpenter has claimed.
Aon Benfield annual cat report reveals $38bn loss for (re)insurers in 2010
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has released its Annual Global Climate and Catastrophe Report, which reviews the natural disaster perils that occurred worldwide during 2010.
Lloyd’s & London market – review of the year: Troubled times
A succession of natural catastrophes got 2010 off to a bad start and the market continued to struggle - but the resolution of Brit’s future and the prospect of consolidation could see the year end on a high. Mairi Macdonald reports.
Scor places €75m catastrophe bond
Global reinsurer Scor has placed a catastrophe bond worth €75m (£62.9m) to protect against European windstorms and Japanese earthquakes.
B2 to be phased out after just two years
Beachcroft is to phase out its specialist volume insurance claims brand B2, just two years after its launch.
Aon Benfield estimates £1.2bn snow losses
The recent adverse weather across Europe has caused an “economic loss” of £1.2bn in Britain alone, according to an estimate from Aon Benfield.
Aon Benfield estimates £1.2bn snow losses
The recent adverse weather across Europe has caused an “economic loss” of £1.2bn in Britain alone, according to an estimate from Aon Benfield.
View from the top: Staying ahead of the game
So, business plans have been approved and/or amended and 2011 looms ever closer. In today's market there is at least one certainty: it will be just as challenging to produce an underwriting profit next year as it has been in 2010.
Postscript - 30 years ago: Korean 747 crash to cost insurers $50m
Looking through Post's back catalogue paints a uniqur picture of more than 150 years of insurance news, as this highlight form 30 years ago reveals.
Claims roundtable - Rising stars: Cream of the crop
Every year, Post's Claims Club identifies and rewards rising stars — who together represent the future of the claims profession. Ant Gould met up with some of this year's finalists to garner their views on the state of the claims nation.