Subject: Claims Page 14 / 49
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- October 13 2023
CCi appoints Nick Barham as head of technical expert services – Asia
Barham, who is relocating to Singapore, will lead the expansion of the consultant's technical engineering services to its insurance and construction clients in the region.
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- October 12 2023
IAG’s Hunter Hailstorm loss creep to squeeze H1 margins
Reinstatement costs of US$45m also to hit performance, as IAG's CEO laments a "substantial and sustained reduction" in reinsurance global capacity.
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- October 10 2023
Berkley hires Tony Yu as Greater China claims manager
Yu will report to Sica Quan, head of claims for North Asia, and Roden Tong, chief executive of the Hong Kong branch.
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- October 10 2023
Hong Kong’s record rainstorms put focus on ‘overlooked’ water damage risks
Property and construction firms should prioritise protection from water, which causes more than half of all damage in the SAR, say leaders from Zurich and Lockton.
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- October 9 2023
Observatory raises T9 signal as typhoon slams Hong Kong after Taiwan hit
There have been multiple disruptions across the SAR including 90 flights being cancelled and a further 130 delayed.
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- October 9 2023
Exclusive: (Re)insurers staring at US$2bn+ losses from India’s Himalayan dam collapse, flood damage
An IFFCO Tokio-led panel of eight insurers have a US$1.37bn property damage and BI policy for the 1,200MW Teesta-III project that was completely damaged in a flash flood, show documents reviewed by IAN.
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- October 9 2023
Greensill investor alleges Marsh was aware of serious problems: report
The broker says that there were no breach of duties and puts the onus on private equity firm White Oak for due diligence.
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- October 4 2023
Hong Kong braces for more typhoon losses as Koinu heads to city via Taiwan
Southern Taiwan schools and urban areas closed, and over 70 domestic flights cancelled.
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- October 3 2023
SMBC Aviation receives US$710m insurance settlement for jets stranded in Russia
The Japanese lessor had commenced litigation in the Irish courts late last year against 11 insurers over its 34 aircraft stuck in Russia following European sanctions.
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- September 28 2023
Analytics: Singapore’s H1 P&C underwriting profits nearly double
(Re)insurers benefited from strong premium growth in engineering and credit lines and a lower claims tally, however aviation hull and cargo GWP declined, according to MAS data.
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- September 25 2023
Ominous start to spring weather in Australia, New Zealand puts (re)insurers on high alert
Bushfires, an El Niño declaration, record rain, landslides, heavy snow and an earthquake in the last few days point to busy six months ahead for claims' handlers.
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- September 22 2023
Analytics: Asian marine premiums cross US$10bn despite slowing cargo growth
Flattening economic growth in China and the strengthening dollar drive down cargo premiums from the region, while hull premiums benefit from post-Covid recovery, says IUMI.
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- September 20 2023
Typhoon Nanmadol’s final loss count is US$850m: Perils
The storm hit the Japanese islands of Kyushu and Shikoku and the western and central regions of Japan’s main island of Honshu in September last year.
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- September 20 2023
Hong Kong’s drainage improvements allowed city to bounce back after historic rainstorm: Guy Carpenter
The broker notes a further five stormwater storage tanks are being planned in the SAR which saw 60 flooding and 75 landslide reports and 80 blocked roads.
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- September 15 2023
New Zealand’s carriers making ‘good progress’ on claims as 2023 disaster bill tops US$2bn: ICNZ
The ICNZ said that more than a year’s worth of claims arised over the space of 15 days from the Auckland floods and Cyclone Gabrielle.
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- September 15 2023
Opinion: Hong Kong’s insurance players should step up risk mitigation for clients and the city
While paying claims and looking after clients is the immediate priority, the market should spend more effort making sure buildings are better managed, rain or shine.
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- September 13 2023
Record rains add ‘further pressure’ on Hong Kong’s reinsurance renewals: AM Best
The impact of the black rainstorm is likely to be more of an earnings event for the market, rather than a material hit to capital adequacy, the rating agency noted.
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- September 13 2023
Australia’s carriers brace for bushfire losses fueled by El Niño
For the first time since 2019, Australia’s eastern states face heightened risks due to high temperatures, ample vegetation and a rapidly desiccating landscape, say risk modellers.
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- September 13 2023
ICA reveals huge cost increase of losses if historic Australian disasters happened again
The April 1999 Sydney hailstorm which caused US$1.1bn in insured losses would see an estimated US$5.7bn claims' bill if it happened in 2023.
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- September 12 2023
Claims from Typhoon Saola and black rain event of ‘large scale and continue to escalate’: HKIA
The two storms have caused significant motor and property losses, with the regulator urging insurers to make adequate resources available to settle claims.
