From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be like, insurers and weather prediction agencies …
Gerard Wynn, a Reuters market analyst, has expressed his own views on the necessity of continuing to deal with the challenges presented by extreme weather and its global impact. Rising temperatures are driving more frequent bouts of extreme weather which …
A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries, reinstatement premiums and taxes. Aspen Insurance Holdings Limited …
State officials are still investigating the causes behind wind-swept fires that burned last year in a number of Detroit neighborhoods, and the response by a city utility to reports of power outages and downed wires. The Michigan Public Service Commission, …
Sony Corp said on Tuesday deliveries in Britain of compact discs and DVDs could be affected after a fire hit its sole warehouse for content products in the country. The fire in the insured three-storey, 20,000 square meter warehouse was …
The Association of British Insurers has issued a set of guidelines and an explanation of the insurance coverage incident to the recent riots in London and other UK cities. The ABI estimates that insured losses and damage suffered by individuals …
A wave of violence and looting raged across London and spread to three other major British cities on Tuesday, as authorities struggled to contain the country’s worst unrest since race riots set the capital ablaze in the 1980’s. In London, …
Catastrophe modeling firm EQECAT has issued a bulletin describing the potential insured market losses and summarizing the various impacts of Japan’s insurance market with its specific inclusions and exclusions. Earthquake Shaking (EQ Shake) EQECAT identified this as the biggest exposure …
The unexpected nature of this week’s earthquake in Japan, plus the damage from the subsequent tsunami and fires, makes estimating insured losses from the disaster especially difficult, senior executives at two top catastrophe risk modeling firms said Saturday. About $24 …
