Thursday, November 23, 2017

Catastrophe

Aon estimates US$10bn global catastrophe loss in October

Aon estimates US$10bn global catastrophe loss in October

Typhoon Mujigae alone caused about US$4.2bn of losses last month, according to Aon Benfield.

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Asian catastrophe capacity continues to exceed demand

Asian catastrophe capacity continues to exceed demand

Appetite for regional primary catastrophe premium remains high, despite a number of market losses.

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Disaster protection gap hits US$1.3tr

Disaster protection gap hits US$1.3tr

Disaster risks are increasing while insurance is not keeping pace, according to a report released by Swiss Re.

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Quake insurance could rise by up to 50% in Japan

Quake insurance could rise by up to 50% in Japan

Japanese nonlife insurers plan to raise quake insurance premium rates in 36 prefectures.

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Japan’s top insurers set to pay US$822m for typhoon damages

Japan’s top insurers set to pay US$822m for typhoon damages

Payments for this fiscal year could mark the highest typhoon-related pay-out since 2011.

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Commercial rates continue to plunge globally

Commercial rates continue to plunge globally

Declines are driven by the benign loss environment and abundance of global capacity, says Marsh.

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New India Assurance renews Air India cover for US$9.5bn

New India Assurance renews Air India cover for US$9.5bn

The bid to insure Air India’s 126-aircraft fleet will earn a premium of US$22.5 million.

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Cat bond issues down as competition responds

Cat bond issues down as competition responds

Traditional and collateralised players are responding with lower pricing and expanded coverage.

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Philippine insurers favour mandatory earthquake insurance

Philippine insurers favour mandatory earthquake insurance

Insurers have submitted a proposal on compulsory earthquake insurance to the finance secretary.

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Asia is home to the world’s riskiest cities

Asia is home to the world’s riskiest cities

The region’s cities face diverse threats, ranging from storms and earthquakes to market crashes and pandemics.

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China trials first earthquake insurance in Yunnan

China trials first earthquake insurance in Yunnan

Six insurance companies have joined in the launching of China’s first earthquake insurance trial.

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10 years on: Hurricane Katrina’s lessons for Asia

10 years on: Hurricane Katrina’s lessons for Asia

The devastating storm was a wake-up call, but not one that has been heeded where it matters most.

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Asia’s windstorm losses to rise dramatically

Asia’s windstorm losses to rise dramatically

Rising wealth and growing populations in coastal areas are creating a perfect storm, says Allianz unit.

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Global insured losses fall to half 10-year average

Global insured losses fall to half 10-year average

Total global insured losses for the first six months of 2015 dropped to half 10-year average of US$29bn, says Swiss Re.

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Tianjin blast likely to produce large claims

Tianjin blast likely to produce large claims

An explosion in the city’s port district has killed dozens and caused hundreds of millions of dollars of damage.

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Only 10% of Taiwan’s cars insured against storms

Only 10% of Taiwan’s cars insured against storms

Typhoon Soudelor wrought havoc in Taiwan, but only a fraction of vehicles in the country are insured for storms.

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Malaysia’s life insurers settle all MH370 claims

Malaysia’s life insurers settle all MH370 claims

The Life Insurance Association of Malaysia has said that a total of M$16.9m was paid to the victims’s families.

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Japan insurers seek 19% hike in earthquake premiums

Japan insurers seek 19% hike in earthquake premiums

The new increase could take effect by January 2017 but will be introduced in phases.

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Zainudin Ishak, Malaysian Re

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