Industry Segments: Claims Page 8 / 45
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- January 3 2024
ICA extends insurance catastrophe declaration to January 3 as extreme weather continues
Almost 38,000 insurance claims have been lodged following the weather that has impacted Queensland, New South Wales, and Victoria since December 23.
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- January 3 2024
Korea’s FSC expands eligibility and scope of joint underwriting agreement on fire insurance
The polices can now cover damage resulting from natural disasters, building collapse, and leaks from water supply or drainage systems, as desired by the policyholder.
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- January 3 2024
Eastern Australia’s wild weather claims in December top 40,000: ICA
While insurers received more than 37,000 claims from the Christmas storms across three states, the Cyclone Jasper claims from northern Queensland crossed 6000.
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- January 2 2024
Australia Christmas storms has potential to exceed US$1bn loss level: CRESTA
The two record-breaking New Zealand weather events in early 2023 and the August China floods among 7 non-US cat events with billion-dollar industry losses.
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- January 1 2024
Australia prepares for more wild weather even as Christmas storms claims soar
The ICA declared the insurance catastrophe of December after claims from Queensland, New South Wales and Victoria crossed 18,000 as of December 29.
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- December 21 2023
ICA declares ex-cyclone Jasper insurance catastrophe as carriers get 3,800 claims
The escalation would result in prioritising claims for affected policyholders across the region.
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- December 21 2023
Axa XL bolsters APAC & Europe team with two senior appointments
Sydney-based Julijana Sumner has been promoted to chief claims officer, while Paris-based Sandhya Louis has become chief operating officer.
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- December 20 2023
Australian insurers well placed to meet Jasper flood claims: S&P
Only insurers with high market shares in far north Queensland might trigger their reinsurance cat covers, the rating agency said.
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- December 20 2023
Gansu earthquake insured losses near US$2m as claims climb: NAFR
Insurers are processing claims "on fast track" as the country’s deadliest quake since 2014 has killed 113 and wrecked 155,000 homes in Gansu.
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- December 19 2023
Beijing cold snap hit non-life insurers with US$7m losses: NAFR
Record low temperatures and blizzards in the capital city have seen property & casualty insurers receive 5,389 claims as of last Friday, according to the regulator.
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- December 19 2023
Thai insurance regulator to give SMK 60 days to solve liquidity problems: report
The troubled non-life insurer is at risk of losing its licence, which could mean its liabilities, about US$860m now, will have to be covered by the OIC's US$40m General Insurance Fund.
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- December 19 2023
Everest takes Allianz Commercial’s Joanna Mercer as Australia head of claims
Sydney-based Mercer joins the insurer from Allianz Commercial, where she was most recently regional head of claims, Pacific.
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- December 18 2023
Australian carriers see claims rise from flash floods following Cyclone Jasper
The ICA has declared a significant event in northern Queensland as Suncorp reported more than 500 claims and IAG about 100 from record flooding in Cairns.
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- December 18 2023
Berkley promotes Adeline Lee to Asia head of claims
Singapore-based Lee will lead the carrier's claims function across the region, reporting to Aaron Yip, CEO of Singapore branch and regional chief underwriting officer.
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- December 18 2023
Thai carrier SMK barred from issuing new policies after bankruptcy court rejects rehabilitation plan
The country's bankruptcy court has asked the Covid-19-hit general insurer's management to resume responsibility and begin compensating the insureds.
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- December 15 2023
EQC hit with New Zealand’s biggest-ever class action for underpaying claims
The Christchurch High Court authorised the lawsuit that alleged that the earthquake commission saved US$932m by underpaying land damage claims from the 2010-11 Canterbury earthquakes.
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- December 14 2023
New India Assurance admits NHPC’s Sikkim flood claims
The state-owned power producer's projects damaged in the flood include Teesta-V Power Station (510 megawatt) and the under-construction Teesta-IV HE project (500 megawatt).
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- December 14 2023
Australian cyclone pool expects to cover 94% projected ultimate exposure by year-end
Nine out of 11 large insurers have already joined the ARPC while IAG and Autor & General will join by December 31; The pool made an underwriting loss of US$2.75m from a GWP of US$100m in FY 2023.
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- December 12 2023
Kiwi insurers settle claims worth US$1.7bn from twin weather events: ICNZ
87% of 115,353 claims worth US$2.2bn for Auckland Anniversary Weekend floods and Cyclone Gabrielle, two largest insurance weather events in the country's history, have been settled.
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- December 11 2023
Crawford picks Reuben Francis from Sedgwick as deputy managing director for Malaysia
Kuala Lumpur-based will be responsible for the technical quality and delivery of loss-adjusting services, client management and business development.
