Industry Segments: Flooding Page 8 / 9
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- July 12 2022
NSW claims rise to US$83m in latest flooding disaster
Over 10,500 claims have been lodged with insurers already, said the ICA.
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- June 29 2022
Australia’s Feb, March floods now third costliest nat cat: ICA
The floods in Queensland and New South Wales have caused over US$3.3bn of insured losses.
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- June 24 2022
Queensland’s RACQ confirms US$69m payout from Feb, March floods
Almost 5,000 home repairs have been completed or are underway.
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- June 23 2022
IAG’s NRMA Insurance hit by 30,000 claims from Feb, March floods
54% of Australians worried their property will be damaged by wild weather within 12 months.
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- June 21 2022
Appraisal of Malaysian floods boosts case for digital claims
With 90% of economic losses uninsured more is required to persuade homeowners to buy cover.
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- June 17 2022
APRA grants Australian Reinsurance Pool Corporation authorised reinsurer status
The new cyclone reinsurance pool is expected to start in July.
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- June 9 2022
Perils ups Australia east coast flooding loss to US$3.5bn
The increase is US$720m above its previous estimate for the Q1 nat cat in Queensland and NSW.
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- June 3 2022
Australian floods: modellers struggle with ‘a single consistent view of risk’
Flood risk has become a major catastrophic burden for the Australian market, highlighting the importance of accurate modelling.
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- June 2 2022
Aussie flood estimates rise by 28%: ICA
Estimates of insured losses now top US$3 billion, with claims at 216,465.
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- May 27 2022
Australia’s general insurers saw US$303m loss at start of year
The devastating floods in February and March sparked an increase in claims.
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- May 23 2022
ICA welcomes new Australian government
Labour Party has pledged to provide A$200 million a year for a Disaster Ready Fund.
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- May 18 2022
Malaysian insurers predict ‘substantial’ price increases due to floods: study
On average around 10% of economic losses are covered, a new report reveals.
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- May 16 2022
Queensland launches resilience scheme as more floods arrive
The US$500m Resilient Homes Flood is the largest such programme to be launched in Australia.
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- May 11 2022
Japan, India lifts Munich Re 1.4 renewals after Aussie flood losses
The German reinsurer lost US$465m from the floods in Q1.
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- May 4 2022
Aussie floods put pressure on capacity ahead of renewals
P&C insurers have begun increasing premiums and tightening policy wordings as they take stock.
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- April 20 2022
Australia flood loss estimate tops US$2.9bn in ‘complex’ event: Perils
The application of event definition clauses for reinsurance purposes will vary across the market.
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- April 15 2022
Queensland, NSW flood claims top US$1.8bn: ICA
RACQ's head of claims says it is one of the worst natural disasters in Australia's history.
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- April 6 2022
Q&A: Swiss Re’s Mark Senkevics
Head of P&C underwriting for Asia and ANZ on extreme flooding events in Asia, and how these can be managed going forwards.
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- April 4 2022
Australia P&C renewals to be ‘tougher’ as cats bite: AM Best
Insurers usually buy cat excess-of-loss reinsurance with a limit above an expected 1-in-200-year loss.
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- March 31 2022
Only 11% of Asia flood losses insured in 2021: Swiss Re
Between 2011 and 2020, economic losses from regional flooding have averaged US$30bn annually.
