Floods News

5 Principles for Navigating Complex Property/Casualty Claims

Property/casualty losses arising from construction defects, earthquakes, hurricanes, floods, fires, industrial accidents, tornadoes or any number of other perils can strike at almost any time. When they do, the impacts to a business can be crippling, and managing the operational, …

Global Disasters During May to Cost Insurers at Least $7B: Aon Report

Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. An historic wildfire caused catastrophic damage in …

Tornado Hits Hamburg – Latest in Europe’s Destructive Summer Storms

A tornado tore through the northeast of Hamburg on Tuesday evening, blowing off the roofs of several buildings, uprooting dozens of trees and damaging cars and a power line as storms that have raged across Europe this month continue to …

Insured Losses from Australia’s Storms Rise to $41.6M

The Insurance Council of Australia (ICA) has expanded the footprint of the latest insurance catastrophe to include the east coast of Victoria and Tasmania’s northern and eastern coastlines. The declaration increases the insurance claims and losses attributable to the severe …

Update: German Flood Claims Estimated at $1.1B, Says Fitch Ratings

Insurers will face higher-than-expected claims related to floods in Germany, according to Fitch Ratings, dealing another blow to an industry squeezed by low interest rates and decreasing prices for policies. Claims linked to torrential rain, thunderstorms and floods that hit …

Australia’s Storms Estimated to Cost Insurers $28 Million: Insurance Council

The Insurance Council of Australia (ICA) has declared an insurance catastrophe after the storms that pounded the east coast of Queensland and New South Wales (NSW) over the weekend. By Monday, June 6, insurers had received more than 11,150 claims …

Insured Losses from French Floods May Total $682M: Industry Association AFA

Insurance executives meet with government officials in Paris Monday to assess the cost of flooding in the Centre and Ile-de-France regions as the Seine river recedes from its highest levels in more than three decades. The river flowing through the …

PERILS Revises Loss Estimate for UK Floods from Storm Desmond to $861.4M

The insured property loss estimate for floods that hit the UK from Dec. 4 to 24, 2015, following Storm Desmond and other low pressure systems, has been revised to £597 million ($861.4 million), according to PERILS, the independent Zurich-based organization …

Torrential Rain Triggers Floods in France; Seine Rises to Highest Level in 34 Years

Paris’s Seine River rose to its highest level in more than 34 years, disrupting train traffic and prompting the Louvre museum to shut to move some its artwork from flood-prone storage areas. As torrential rains lashed France over the last …

Update: Flash Floods Hit SE Germany, Killing at Least 8; AIR Worldwide Comments

Torrential rain, thunderstorms and flash floods that have inundated towns in southeastern Germany in recent days took the death toll to at least eight as forecasters warned of continuing severe weather spreading northward and westward into France. Five people drowned …