Industry Segments: Claims Page 4 / 48
-
- October 17 2024
Asia economic losses for 9M 2024 top US$70bn as secondary perils drive costs: Gallagher Re
Three of the top five costliest economic events for the period were in Asia – China seasonal floods, Typhoon Yagi and the Noto Peninsula earthquake – accounting for combined US$50bn in economic losses and US$4.7bn in insured losses.
-
- October 16 2024
SRCC rates harden, capacity, limits lower as tensions grow
Broader strike riots and civil commotion extensions under property programs are unlikely to be the norm going forward.
-
- October 11 2024
BESS-wary markets look for leadership to bind risks
Renewables specialist GCube's CEO says the market has to facilitate insurance on a more consistent approach as more projects appear around the world.
-
- October 7 2024
QBE Singapore elevates Joyce Cheong to head of claims, people & asset risk
Cheong is responsible for all people-related risk claims such as accident, health, workers compensation and injuries, and asset-related losses including property, motor and engineering damages.
-
- October 2 2024
Typhoon Shanshan claims climb to US$180m in Japan
Fire insurance losses accounted for the bulk of 90% of the claims paid out and 85% of claims filed after the strongest typhoon to hit the country in decades made landfall in south-west Japan on August 29.
-
- October 1 2024
Everest appoints Jason Chua as senior claims specialist for short tail
Singapore-based Chua joins the insurer from Axa XL, where he was a claims specialist.
-
- September 25 2024
Typhoon Pulasan exacerbates Bebinca losses in China
The cumulative effect of losses from both typhoons in the country, added to losses from Yagi in South China, is more serious compared with the previous two years and will naturally impact the financial performance of (re)insurers in 2024, according to loss adjusters in China.
-
- September 24 2024
Australian Federal Court rules to declass four BI class actions against insurers
The ruling is regarding representative proceedings regarding Covid-19 business interruptions claims against IAG, QBE, Lloyd's syndicate 2003 and Hollard.
-
- September 23 2024
Typhoon Yagi to drive reinsurance premium, deductible increases in Vietnam and beyond
Premiums increases that will allow the carriers to cover costs and mitigate future risks are likely to be particularly evident in high-risk areas, such as coastal provinces in the north.
-
- September 16 2024
Lockton Australia expands claims offering with Gallagher hire
Sydney-based Adam Squire, who has 38 years of industry experience, has joined the broker as head of claims.
-
- September 13 2024
Super typhoon Yagi hit Vietnamese insurers with US$285m in claims payout
PVI Insurance, the largest non-life carrier, called it "a historically undesirable loss for Vietnam’s insurance industry" and for the company. The 9,000 claims filed are expected to keep rising, Ministry of Finance said.
-
- September 13 2024
China braces for typhoon Bebinca as Yagi slaps US$11bn economic losses on Hainan: report
The country’s meteorological bureau issued a blue alert for its 13th typhoon of the year warning of heavy rain in Zhejiang, and Shanghai. This followed local media reports pointing to escalating economic losses that super typhoon Yagi caused to Hainan.
-
- September 11 2024
Japan, Australia are top two APAC markets most sensitive to rise in nat cat claims: S&P
Insured annual catastrophe losses averaged US$6.6 billion in Japan, and US$2.5 billion in Australia over a ten-year period. China ranked third in Asia, at US$1.7 billion, according to the rating agency.
-
- September 10 2024
Typhoon Yagi losses may drive up rates, tighten treaty terms in Vietnam
Insured losses are climbing as carriers in China, Vietnam and the Philippines count the damages after the region's strongest storm this year destroyed houses, factories, infrastructure and crops across the three countries.
-
- September 9 2024
Multi-peril risks fuel demand for cat coverage: Hannover Re
The reinsure anticipates prices and conditions to remain stable for the January 1, 2025, treaty renewals with supply and demand in most markets remaining balanced.
-
- September 6 2024
Typhoon Yagi wreaks havoc in Vietnam, China losses top US$100m
The storm has been downgraded to a tropical depression but the Vietnamese meteorological bureau has cautioned about ongoing risks of landslides and flooding as it continued to move westwards.
-
- September 6 2024
Extension of cyclone pool coverage period to 7 days would increase average annual loss by 5%: ARPC
The Australian cyclone pool will need to collect additional premiums through rate increases to cover the increased claims costs if such a change was made, the pool's administrator said.
-
- September 6 2024
Super typhoon Yagi set to bear down on southern China, Vietnam
The most intense tropical cyclone in decades in the South China Sea is expected to have severe impact in Hainan, southern China and northern Vietnam.
-
- September 3 2024
Crawford Australia appoints Milia Xystros as head of third party administration
Previously, Sydney-based Xystros was executive manager at Lloyd's syndicate Procare Claims and Risk.
-
- September 3 2024
Insurers brace for claims as wild weather hits southern Australia
The severe weather including damaging winds, major floods and coastal hazards caused widespread damage across Victoria and Tasmania and left more than 120,000 without power.
