Industry Segments: Catastrophe Page 13 / 45
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- December 21 2022
Australian carriers seek cyclone pool clarity
The scheme's failure to take off risks worsening affordability of property cover in northern Australia, finds competition regulator.
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- December 20 2022
Typhoon Nanmadol losses up at US$906m: Perils
The estimates, which cover property losses excluding motor and transport-related damages, are much lower than first expected.
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- December 16 2022
Opinion: RACQ exit rumour calls into question CTP scheme
Demands for an overhaul of the state’s motor insurance framework have resurfaced with the reports of a possible sale of the club’s motor arm.
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- December 15 2022
New Zealand 2022 extreme weather claims top US$216m
The country experienced “wave after wave of extreme wet weather” during the warmest and wettest winter on record.
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- December 15 2022
Indonesia wants nat cat cover for certified buildings after West Java earthquake
In November a 5.6-magnitude earthquake rattled the city of Cianjur killing more than 330 people and damaged thousands of homes.
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- December 9 2022
October Australian flood damage bill at US$533m: Perils
La Nina conditions that triggered these floods are forecast to extend into their third consecutive year in 2023.
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- December 2 2022
2022 nat cat bill reaches US$115bn: Swiss Re
It's the consecutive year in which estimated global insured losses are more than US$100bn.
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- December 2 2022
Japan’s insurers to improve profitability from domestic underwriting in 2023: Fitch
All three major non-life groups’ net insured losses from local nat cats more than tripled in H1 2022/3.
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- November 30 2022
Tokio Marine-backed ICEYE in Asia nat cat data push
The Finnish satellite tech provider, which offers disaster claims management services, is looking to expand beyond Australia and Japan.
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- November 24 2022
Tower’s FY 2022 COR improves to 90.1% but profits slip
The company said the strengthening of Canterbury earthquake reserves and a customer remediation provision impacted results.
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- November 21 2022
QBE ups FY 2022 nat cat estimate by US$98m
The new figure is US$1.06bn as 'elevated catastrophe activity' continued in H2.
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- November 21 2022
Japan’s big three post massive H1 underwriting losses on nat cats, Covid-19
While Sompo Holdings and MS&AD Insurance Group posted net losses for their first six months of the fiscal year, Tokio Marine saw a 70% fall in profits.
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- November 18 2022
Water-related losses highest in Asia, more stress likely, warns WMO
In Asia, the highest adaptation cost is estimated for China at US$189bn, followed by India at US$46bn.
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- November 17 2022
November floods add to rising Australia nat cat woes
Thousands of claims from NSW, Victoria and South Australia add to US$650m plus bill since July 1, as prices become 'out of reach'.
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- November 8 2022
Suncorp cat claims in Q1 hit about 50% of deductible
The Australian insurer said it expects its nat cat claim costs to be in the range of US$225m-US$263m between July and October 2022.
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- November 7 2022
RMS’ Michael Steel: ‘Committed to expanding APAC footprint in terms of models, perils and people’
In an IAN interview, the risk modeller’s global head discussed regional growth plans, climate change, the ILS market, cyber risks, ESG underwriting and the Moody’s merger.
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- November 1 2022
Typhoon Nanmadol losses expected at US$775m: Perils
Claims are lower than initially feared from the powerful Japanese storm.
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- November 1 2022
Perils decreases loss estimate for October 2021 Southern Australia storms
The final loss figure is US$621m, down from US$650m.
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- October 31 2022
Tropical Storm Nalgae wreaks havoc in the Philippines
Multiple buildings, crops, bridges and roads destroyed as storm continues in the South China Sea.
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- October 26 2022
Tower trials parametric cyclone cover in Fiji
While the island country is heavily exposed to cyclones, fewer than 10% of Fijian households have insurance.
