Industry Segments: Flooding Page 1 / 9
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- February 14 2025
Insured losses from 2 of New Zealand’s most destructive nat cats top US$2.1bn: ICNZ
Auckland Anniversary Weekend floods and Cyclone Gabrielle in 2023 resulted in over 118,000 insurance claims.
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- February 12 2025
Opinion: With fires, floods ripping through limits, will carriers get with the program?
Insurers handed wake-up call after LA fires and Queensland floods usher in 2025.
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- February 11 2025
Queensland flood claims top 5,600, but more rain expected as clean-up begins
Suncorp said it has received more than 1,400 claims across its brands as of Tuesday morning.
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- February 6 2025
Queensland flood claims near 4,000, but too early to estimate total damage
Insurance Council of Australia says many communities remain isolated after the region was battered by heavy rain since last week.
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- February 5 2025
Northern Queensland floods set for ‘substantial’ losses after once-in-a-century deluge
Loss adjusters expect property and business interruption claims after parts of the region were battered by heavy rain since last week.
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- February 2 2025
ICA declares significant event for northern Queensland floods
Flooding and storms have mostly affected Australian communities in Townsville, Innisfail, Ingham, Gordonvale and Cardwell.
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- January 22 2025
APAC records nat cat insured losses at US$8bn in 2024, the lowest since 2012: Gallagher Re
Three events - China seasonal floods, Typhoon Yagi, and Japan’s Noto Peninsula Earthquake - drove 68% of economic losses, or US$88bn, in the region.
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- January 9 2025
2024 third costliest year on record with US$140bn insured losses: Munich Re
Japan earthquake, Typhoon Yagi and China floods were the largest events in Asia, aggregating to US$4.5bn in insured losses.
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- December 20 2024
The heat is on for India: climate change, rapid urbanisation set to weigh on BI losses
The country's business interruption insurance market is set to face challenges from heat stress and urban flooding.
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- December 18 2024
Higher retentions by reinsurers drive investment in granular data, modelling: Moody’s Michael Steel
While modellers have embraced AI, insurers remain cautious despite growing recognition of its benefits, says the general manager of the risk analytics provider.
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- December 5 2024
Malaysia’s floods trigger surge in home and commercial property claims
The event has also led to significant agricultural and infrastructure losses estimated at US$224m and affected hundreds of thousands of households.
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- December 5 2024
Australia braces for above-average rainfall in December: BOM
The impact of the storms could be catastrophic, with the risk of fallen power lines, flash flooding, damaging winds and falling trees, says Bureau of Meteorology.
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- November 20 2024
Rokstone launches global multi-peril parametric offering with US$10m facility
The MGA has partnered with NormanMax Lloyd’s Syndicate 3939 to launch to cover earthquake, hurricane, tropical cyclone and typhoon risks, with further perils including floods set to be added next year.
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- November 18 2024
PCRIC secures US$2.6m grant from Global Shield Solutions Platform
The funding from the climate change-focused multi-donor grant facility will be used to support product, development, research, education and eventually, scholarships.
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- November 18 2024
Modellers step up efforts on flood models amid rising secondary peril risk in APAC
Verisk and Moody’s RMS indicate they are listening to the concerns of the market and have laid out plans to “close the gap”.
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- November 7 2024
Hurricane Milton, German floods to drive rates up: Peak Re’s Nowakowski
Civil commotion and political instability are additional factors that reinsurers must consider, said the chief underwriting officer.
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- November 7 2024
Growing demand for comprehensive loss data as natural disasters increase: Perils
As insurance penetration grows, there is a need to better understand the insured exposures and vulnerabilities in these regions, says Perils’ Darryl Pidcock.
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- November 4 2024
High-quality exposure data key to effective nat cat risk management: Verisk
While countries like Australia, New Zealand, and Japan have reliable geocoding and risk data, other markets, including China, India, and South-East Asia, still face gaps.
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- November 1 2024
SIRC diary: Stormy weather
Flooding, of course, is nothing new, but even to the most casual observer, it would now appear unarguable that the severity and intensity of flood losses is a serious problem
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- October 18 2024
Australian flood inquiry report makes 86 suggestions after insurers’ ‘collective failure’
The Parliamentary inquiry into carriers' flood response highlights mishandling of cases, inconsistent decision making and long delays, and calls for government intervention to mitigate risk related to the fast-growing number of uninsurable properties,