Subject: Claims Page 18 / 49
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- April 28 2023
Mitsui Sumitomo facing lunar loss after ispace mission failure
The Japanese carrier provided the world’s first 'lunar insurance' cover for the risks arising from the mission.
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- April 27 2023
Perils revises Australia October flood losses to A$907m
Personal lines property losses constituted 65% of the total industry loss, while commercial lines property losses represented 25% and motor losses at 10%.
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- April 27 2023
PVI confirms Vietnam helicopter crash payout
The total cost for the chopper and the compensation for the dead pilot is around US$2m, with compensation for the four dead passengers still being worked out.
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- April 26 2023
Philippines oil spill damages hit US$68m: NDRRMC
The sinking of MT Princess Empress in Oriental Mindoro has directly affected 24,000 fishermen and a total of 40,897 families, says the country's disaster management agency.
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- April 20 2023
Sedgwick appoints key leaders in forensic accounting team
Andrew Cardamis and Jillian Pancott have been promoted to partner and director respectively, and bring over a decade of client experience.
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- April 17 2023
Shipowners’ Club insures Singapore ship likely taken over by pirates
The ship, Success 9, has since been located off the Ivory Coast with all crew safe.
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- April 14 2023
Tugu Insurance (Hong Kong) continues diversification push: AM Best
After years of 'unstable' underwriting results, the Indonesian-owned insurer has moved away from construction employees’ compensation to focus on lines such as a goods in transit.
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- April 14 2023
Taiwan P&C carriers seek lifeline from owners after regulatory rebuke
Tokio Marine has taken majority control of its JV, while Fubon, Hotai, and CTBC parents are set to absorb losses.
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- April 13 2023
New Zealand nat cat claims set new record for 2022: ICNZ
At US$218m, it is the third consecutive year a new record has been set, with 2023 already surpassing the total from January and February events alone.
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- April 12 2023
PVI Insurance leads consortium of insurers for crashed Vietnamese chopper
Bao Viet Insurance and Military Insurance are other members of the consortium that provides cover to the Vietnam Helicopter Corporation fleet.
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- April 11 2023
Taiwan regulator orders four insurers to raise capital or risk being taken over: report
Fubon, Tokio Marine Newa, Hotai and CTBC must restore their solvency levels by the end of June, or they would be taken over by the Financial Supervisory Commission within 90 days.
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- April 11 2023
Enstar completes US$1.9bn LPT deal with QBE Insurance
The transaction covers a diversified portfolio of business, covering International and North America financial lines, European and North American reinsurance portfolios, and several US discontinued programs.
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- April 7 2023
Opinion: Indonesia’s 1998 riots and their impact on the (re)insurance market
Peter Phillips, chief client officer South Asia at Marsh, gives his views on how the events shaped political violence and terrorism cover.
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- April 5 2023
Philippines’ oil spill expected to exceed Shipowners’ civil liability limit
Compensation from the oil spill is expected to exceed US$10m, meaning all P&I clubs could be on the hook, with decisions made on a case-by-case basis.
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- April 4 2023
Marsh launches ESG ratings for Asia D&O covers
Capacity providers, which include Beazley, will offer preferred terms and conditions to companies that meet minimum criteria based on the risk score.
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- March 31 2023
Cyclone Gabrielle initial losses at US$940m: Perils
This is substantially higher than ICNZ data which came out a week ago at US$555.3m.
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- March 24 2023
Japan H3 rocket failure losses trigger domestic aviation pool
With the launch costs estimated at around US$50m, the loss won’t spill over to international reinsurers.
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- March 23 2023
Cyclone Gabrielle claims reach US$558m: ICNZ
Hawke's Bay accounts for more than half of the total value at US$302m despite having a third of the total 40,000 claims.
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- March 22 2023
Droughts in China and Australia floods push 2022 nat cat insured bill above US$100bn: Swiss Re
Hurricane Ian, inflation and growing property exposure were also key drivers for claims last year.
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- March 20 2023
Industry losses from Nanmadol revised to US$1bn: Perils
The third estimate by the loss data specialist covers property losses sustained by Japanese non-life insurers from the typhoon last year.
