Saturday, November 18, 2017

Catastrophe

Japan insurers review regional risks

Japan insurers review regional risks

Leading nonlife insurers are re-evaluating damage risks to improve their premium pricing.

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JLT and Munich Re launch Philippines parametric product

JLT and Munich Re launch Philippines parametric product

The two companies will jointly develop and offer an insurance solution to cover typhoon risks.

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Insured losses from global disasters slump

Insured losses from global disasters slump

First-half losses were down to US$23bn from US$36bn a year earlier, according to Swiss Re research.

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Philippines tests parametric scheme for disaster-prone provinces

Philippines tests parametric scheme for disaster-prone provinces

The government has allocated US$20m to a pilot project that will offer quick-disbursing payouts based on a catastrophe model.

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Asia suffers US$10bn catastrophe losses in six weeks

Asia suffers US$10bn catastrophe losses in six weeks

The losses were recorded in July alone due to severe flooding, a catastrophe report from Aon says.

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New products needed to close protection gap, says MAS

New products needed to close protection gap, says MAS

New ideas are required to reduce the financial impact of natural disasters in Asia, says Singapore regulator.

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Global losses from disasters down in 2017

Global losses from disasters down in 2017

Economic losses were 56% lower than the 10-year average during the first half of the year.

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Reinsurance softening accelerates

Reinsurance softening accelerates

Despite predictions that pricing would start to bottom out this year, the opposite is actually happening.

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Chinese counties to offer agri disaster insurance

Chinese counties to offer agri disaster insurance

The scheme is aimed at 200 pilot counties that are primarily engaged in planting rice, wheat and corn.

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Quake insurance system pushed in China

Quake insurance system pushed in China

The system is being crafted to reduce the fiscal burden of the government from earthquakes.

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Insured losses from disasters hit four-year high

The amount of insured losses from disasters increased by US$38 billion in 2016, says Swiss Re.

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ADB to expand disaster support for Philippines via insurance

ADB to expand disaster support for Philippines via insurance

The Asian Development Bank is exploring disaster insurance options for one of the countries most vulnerable to natural disasters.

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Insurance initiatives among Apec agenda in Vietnam

Insurance initiatives among Apec agenda in Vietnam

Representatives from 21 economies acknowledged that Asia is among the areas most vulnerable to natural disasters.

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Malaysian insurers ready payments for flood losses

Malaysian insurers ready payments for flood losses

The country’s insurers are prepared to meet claims as seasonal flooding has displaced thousands of people.

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Cost of global natural disasters highest since 2012

Cost of global natural disasters highest since 2012

Last year’s costs were led by earthquakes in Japan, floods in China and wind storms in the Atlantic.

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IAG keeps catastrophe reinsurance at US$7bn

IAG keeps catastrophe reinsurance at US$7bn

Even after the reduction of its commercial portfolio, the Australian insurer has maintained coverage levels.

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Indian insurers may raise premiums in cyclone-prone areas

Indian insurers may raise premiums in cyclone-prone areas

Insurers are considering raising premiums for properties located in low-lying areas on India’s east coast.

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2016 disasters cost US$158bn, says Swiss Re

Insured losses rose by 30%, but covered less than a third of the costs incurred from catastrophes.

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Zainudin Ishak, Malaysian Re

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