Update: Floods Strand Cows, Damage Crops as Wild Weather Hits Australia January 9, 2024 By Keira Wright and Amy Bainbridge Heavy rains and flooding across Australia’s southern state of Victoria has damaged crops and stranded cattle as a months-long run...
Insured Price Tag for Natural Disasters Was $95B in 2023 With Economic Cost of $250B January 9, 2024 By L.S. Howard Natural catastrophes in 2023 caused global economic losses of US$250 billion, with insurers and reinsurers paying US$95 billion of that...
AM Best: Japan Quake’s Effect on Insurers ‘Manageable; KCC Says Losses to Hit $6.4B January 5, 2024 By L.S. Howard The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is...
Japan Earthquake Casts Cloud Over Push to Restart Nuclear Plants January 5, 2024 The powerful earthquake that hit Japan’s western coast on New Year’s Day has underscored the country’s exposure to natural disasters,...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’ January 3, 2024 By L.S. Howard This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a...
Japan Adds Rescuers as Death Toll From Jan. 1 Quake Rises to 64 January 3, 2024 By Isabel Reynolds and Takashi Nakamichi The death toll in the wake of the Jan. 1 earthquake off Japan’s northwest coast rose above 60 as the...
Turkey Earthquake Tops 2023 Insurance Industry Losses Outside US: CRESTA January 2, 2024 The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an...
Climate Change Makes Forecasting Harder, Australia’s Agriculture Minister Says January 2, 2024 By Swati Pandey Climate change is making it harder to accurately predict extreme weather events, said Australia’s agriculture minister Murray Watt, amid criticism...
Update: Major Japan Quake Topples Buildings, Killing Nearly 50 People January 2, 2024 By Erica Yokoyama and Jon Herskovitz The death toll from a powerful earthquake that toppled buildings in the Noto Peninsula on Japan’s northwest coast rose to...
Extreme Weather in Germany Costs Insurers US$5.4 Billion in 2023: GDV December 29, 2023 Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4...