Subject: Flooding Page 9 / 11
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- October 19 2022
ICA escalates Australia floods to ‘insurance catastrophe’
Insurers have received 6,350 claims from across Victoria, New South Wales and Tasmania.
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- October 19 2022
Ongoing Australian floods unlikely to trigger reinsurance cover: S&P
Insurers will be largely able to finance the claims themselves, though there are more flood warnings as rain and thunderstorms spread to other states.
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- October 17 2022
Latest Australian floods declared ‘significant event’ by ICA
Suncorp said it received about 1,000 claims in total, mostly from Victoria, and that it expects the numbers to increase in the coming days.
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- October 12 2022
Australia bracing for major flooding in Victoria and Tasmania
There are also severe weather alerts for large parts of south-east Australia.
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- October 4 2022
Eastern Australia braces for floods with severe weather warning
Rains are likely to lead to renewed river level rises across many flooded rivers in New South Wales, Victoria and southern Queensland.
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- September 23 2022
Market braces for Nanmadol loss creep
Secondary perils could play a major role after mid-single digit billion loss estimates.
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- September 19 2022
Chinese P&C carriers ‘step up coverage’ as extreme weather looms
With urban flood damage estimated to rise to US$77bn in 2030, insurers are diversifying from motor to property and agriculture lines, Morgan Stanley report.
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- September 14 2022
Insurers’ ESG reluctance holding back Asia greening agenda
Market players need to find better ways of underwriting new projects that they don't fully understand.
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- September 13 2022
Eastern Australian floods insured losses reach US$4.33bn: Perils
The figure is around US$960m higher than the data specialist's last analysis, making it the costliest cat loss event in the country ever.
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- September 1 2022
Australian east coast flood losses hit US$3.61bn: ICA
The government launches new body to improve nat cat responses as annual disaster costs expected at US$50bn by 2060.
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- August 29 2022
‘Unprecedented’ Pakistan flooding triggers US$10bn damage
Large P&C carriers such as Adamjee Insurance and United Insurance could see significant claims.
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- August 25 2022
Australian market braces for ‘triple-dip’ La Niña
Carriers are buckling up for yet another summer of severe nat cat claims.
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- August 19 2022
Hundreds of homes at risk as ‘one-in-100-year’ flood hits NZ’s South Island
Extreme weather insured losses were US$123m in the first six months of 2022.
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- August 8 2022
Australian floods dampen reinsurers’ H1 results as secondary perils drive losses
Munich Re, Swiss Re, Hannover Re and PartnerRe were among firms hit by the wild weather.
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- August 4 2022
New Zealand’s climate plan urges development of home flood insurance
The country’s first climate adaptation document wants to address affordability of cover.
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- August 3 2022
Urban floods in India, China and Bangladesh spurred H1 cat losses: Swiss Re
Floods in Australia were the costliest cat event in H1 2022 in terms of insured losses.
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- July 29 2022
Swiss Re returns to profit as Australia floods add to US$270m H1 nat cat miss
The group saw a Q2 net profit of US$405m, while P&C reinsurance H1 nat cat claims were US$938m.
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- July 29 2022
APAC insured losses were US$8bn in H1 2022: Munich Re
Parts of eastern Australia saw their wettest week in February since 1900.
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- July 14 2022
Australia’s PM unveils climate plan as NSW flood claims approach US$100m
Anthony Albanese highlights large scale renewable energy plan, as over 12,000 claims lodged from recent flooding.
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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.
