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 …
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 …
Two severe tropical cyclones that lashed Australia’s north and east coasts with destructive winds have been downgraded after hitting the mainland. No deaths or injuries have been reported in their wake. Cyclone Marcia has weakened two categories after crossing the …
Heavy rains shut four coal mines in eastern Australia on Friday as military helicopters evacuated stranded residents from inundated towns, and authorities warned of further flash flooding. More than 11,000 people in Queensland state have been isolated by the flooding …
According to a bulletin on its web site, the Insurance Council of Australia has released updated figures on “how the general industry has responded to the enormous task of assessing over 118,000 insurance claims received as a result of the …
Flagstone Reinsurance Holdings announced that its preliminary estimate from loss events that have occurred in Australia in the first quarter of 2011 is expected to be between $60 to $80 million, net of reinstatement premiums and retrocession. “These events include, …
A surge in weather-related disasters in Australia could push global mining firms to overhaul supply contracts and rethink how bad weather will affect their operations and customers worldwide. Climate scientists say a warmer world will cause greater extremes of weather …
Catastrophe modeling firm AIR Worldwide has issued early estimates indicating that insured losses to properties and business income from the Category 5 (Australia Bureau of Meteorology intensity scale) cyclone Yasi that struck Australia at midnight local time, Wednesday, February 2, …
Tropical cyclone Yasi roared ashore on the coast of Queensland last night, causing widespread damage to property and knocking out power throughout the region. Although the damages from the wind, the rain and the high tides are severe, no deaths …
