Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points January 31, 2023 By L.S. Howard Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils,...
New Zealand Braces for More Flooding From Another Rain Deluge January 31, 2023 By Tracy Withers Auckland is bracing for another rain deluge later Tuesday that threatens more surface flooding and land slips on ground already...
Insurers Hit With Thousands of Claims Following Storms and Floods in New Zealand January 30, 2023 By Harish Sridharan Major insurers operating in New Zealand including Insurance Australia Group and Suncorp Group have cumulatively received over 9,000 claims so...
Counting the Rising Cost of Climate Change With Top Most Costly Natural Disasters November 16, 2022 Climate change has raised the cost of natural disasters, as rising sea levels and drought increase the frequency and severity...
Insurers Should Be Ready for Global Average Disaster Losses of $123 Billion: Verisk September 29, 2022 The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every...
Reinsurers Adopt Divergent Strategies About Natural Catastrophe Exposures: S&P August 31, 2022 By L.S. Howard The natural catastrophe business of global reinsurers has been reshaped by five years of higher-than-expected losses, which is leading reinsurers...
Droughts, Floods, Other Water-Related Disasters Could Cost Economy $5.6T by 2050 August 29, 2022 By Gloria Dickie Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to...
Global Natural Disasters Cost Insurers $34 Billion in H1 2022: Munich Re July 28, 2022 Global natural disasters during the first half of 2022 cost insurers about US$34 billion, which covered a little more than...
Russia Vulnerable to Climate Change, Causing Expensive Natural Disasters April 14, 2021 By Olga Tanas and Dina Khrennikova The residents of Irkutsk, one of Russia’s coldest regions, are used to harsh winters. But when the temperature dropped to...
Japan Firms Have Done Little to Build Resilience Against Increasing Floods: Reuters Poll January 17, 2020 By Tetsushi Kajimoto and Izumi Nakagawa Japanese companies have contingency plans for the floods that increasingly drench this island nation, but most have done little to...