Industry Segments: Claims Page 15 / 45
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- April 11 2023
Enstar completes US$1.9bn LPT deal with QBE Insurance
The transaction covers a diversified portfolio of business, covering International and North America financial lines, European and North American reinsurance portfolios, and several US discontinued programs.
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- April 7 2023
Opinion: Indonesia’s 1998 riots and their impact on the (re)insurance market
Peter Phillips, chief client officer South Asia at Marsh, gives his views on how the events shaped political violence and terrorism cover.
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- April 5 2023
Philippines’ oil spill expected to exceed Shipowners’ civil liability limit
Compensation from the oil spill is expected to exceed US$10m, meaning all P&I clubs could be on the hook, with decisions made on a case-by-case basis.
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- April 4 2023
Marsh launches ESG ratings for Asia D&O covers
Capacity providers, which include Beazley, will offer preferred terms and conditions to companies that meet minimum criteria based on the risk score.
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- March 31 2023
Cyclone Gabrielle initial losses at US$940m: Perils
This is substantially higher than ICNZ data which came out a week ago at US$555.3m.
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- March 24 2023
Japan H3 rocket failure losses trigger domestic aviation pool
With the launch costs estimated at around US$50m, the loss won’t spill over to international reinsurers.
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- March 23 2023
Cyclone Gabrielle claims reach US$558m: ICNZ
Hawke's Bay accounts for more than half of the total value at US$302m despite having a third of the total 40,000 claims.
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- March 22 2023
Droughts in China and Australia floods push 2022 nat cat insured bill above US$100bn: Swiss Re
Hurricane Ian, inflation and growing property exposure were also key drivers for claims last year.
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- March 20 2023
Industry losses from Nanmadol revised to US$1bn: Perils
The third estimate by the loss data specialist covers property losses sustained by Japanese non-life insurers from the typhoon last year.
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- March 20 2023
Carriers brace for property claims as bushfires spread across Australia
A heatwave has sparked dozens of fires that have impacted multiple properties across WA, SA and NSW with claims inevitable.
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- March 16 2023
ICA calls for 10-year disaster funding over worsening extreme weather
The insurer body wants the government to extend the US$133m per year programme into a rolling scheme.
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- March 16 2023
Exclusive: Hankook Tire fire losses may reach liability limit of US$230m
While KB Insurance has a 40% exposure to the risk pool, Samsung, Hyundai and DB Insurance have 20% each, IAN can reveal.
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- March 15 2023
Auckland floods initial loss estimate is over US$1bn: Perils
The unprecedented event is labelled as the largest weather-related insurance industry loss historically for New Zealand.
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- March 15 2023
Claims pile up from Malaysia flood losses as unseasonal rains continue
Loss adjusters have seen hundreds of claims, while agriculture damage already exceeds the overall losses in the state of Johor for 2022.
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- March 10 2023
Moody’s downgrades Fubon Insurance as pandemic hits profitability
The Taiwanese insurer's rating was changed to A2 from A1 with outlook changed to negative from stable.
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- March 10 2023
Hannover Re’s 2022 APAC P&C combined ratio surges to 126.1%
The German reinsurer was hit by floods in Australia and Malaysia, typhoons in Japan and South Korea and Covid losses in Taiwan and Thailand.
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- March 9 2023
Exclusive: Philippines oil spill could cost Shipowners’ Club over US$100m
IAN understands that the P&I club is the sole insurer on a sunken oil tanker that was carrying 800,000 litres of toxic fuel oil.
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- March 7 2023
WTW appoints Tony Calnon head of complex claims for Australasia
Calnon joins the broker from loss adjuster Crawford, where he was a forensic accountant.
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- March 6 2023
Auckland flood claims cross NZ$1bn: ICNZ
Insurers have received 48,000 claims from the North Island floods, while Cyclone Gabrielle claims lodged have reached 30,000.
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- March 6 2023
Ping An on the line for Hong Kong skyscraper fire set to cost over US$50m: sources
A blaze at an under-construction luxury hotel, which IAN understands is brokered by WTW, could be the highest property-related insurance payout in the city.
