Asia suffers US$10bn catastrophe losses in six weeksAugust 10 2017 by InsuranceAsia News Staff
- August 16
Crawford reports damage to power plants, airport construction project and SMEs.
- August 15
Claims from the record downpour expected to top US$115m.
- August 11
The insurance giants saw losses of US$610m from freak storm in addition to Ukraine impact.
- August 10
Insurers including Samsung Fire & Marine and DB Insurance said the damages amount to several billion won.
A longer claims process and increased cost were some of the challenges faced by insurers.
Tropical cyclones have always been a significant peril in Asia and a major focus for risk assessment in the region.