Insured losses for the Australian bushfires of 2019/2020 rose to A$1.866 billion (US$1.441 billion), according to estimates issued by PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This fourth and final industry loss estimate is a slight …
The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data. The industry loss data cover the peak period for the …
About 500 firefighters were battling out-of-control wildfires in eastern Australia that have destroyed up to 30 homes. More than 40 bushfires were burning across New South Wales state. Temperatures were cooler Wednesday after strong winds and stifling heat restricted firefighting …
More than 70 homes were destroyed as bushfires swept through the seaside town of Tathra in southeastern Australia at the weekend. Soaring temperatures and wind gusts fanned the fires about 500 kilometers (310 miles) south of Sydney, causing the blaze …
Insurers face claims of more than US$1.0 billion as a result of severe weather events in the U.S. and Australia during February, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. The report discussed the …
Australia’s most populous state declared an emergency as wildfires tore through bush land west of Sydney, destroying hundreds of homes and threatening mountain townships. New South Wales State Premier Barry O’Farrell signed the order late yesterday, giving emergency services personnel …
Catastrophe risk modeling firm AIR Worldwide announced the expansion of its suite of catastrophe models for Australia “with the release of the industry’s first probabilistic bushfire model and updated tropical cyclone and earthquake models.” Dr. Jayanta Guin, senior vice president …
