Mauritius and Reunion Assess Damage From Cyclone That Killed at Least 4 People January 18, 2024 By Gerald Imray and Lewis Joly Mauritius lifted its highest weather alert and eased a nationwide curfew Tuesday after a deadly cyclone battered the Indian Ocean...
Extreme Icy Weather Paralyzes Travel in Parts of Europe January 18, 2024 By Eamon Akil Farhat and Lars Paulsson Freezing weather in Germany and other parts of Europe threatened widespread road, rail and flight disruptions as the region braced...
Federal Reinsurance Backstop for Catastrophes: APCIA Says No Thanks January 16, 2024 Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private...
Australia’s Usual Summer of Wildfires Is Now Being Soaked by Prolonged Wet Weather January 12, 2024 By Keira Wright and Ben Westcott Australians bracing for a return of scorching heat and wildfires are instead battling a prolonged deluge of rain across the...
Storm Henk Causes Estimated £150 Million in UK Insured Losses: PwC January 10, 2024 By Carolyn Cohn and Simon Jessop Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around...
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...