Lloyd’s has launched a parametric earthquake insurance policy in New Zealand, in partnership with start-up Bounce Insurance, which uses cutting-edge technology and real-time data to automatically pay customers within five days of a strong earthquake. The new product, also called …
Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated earthquake model for New Zealand. This model incorporates the latest scientific research after the 2010–2011 Canterbury earthquake sequence, the 2016 Kaikoura earthquake, and earthquakes worldwide to provide …
New Zealand’s government said Friday [March 31] the partial collapse of a modern office building’s interior during an earthquake last November was unacceptable and could have killed people. Minister for Building and Construction Nick Smith said officials will review the …
Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million euros ($530 million) from about 700 million euros a …
Insurance losses from last month’s magnitude 7.8 earthquake in New Zealand are likely to range between NZ$1.0 to 5.0 billion (US$705 million and US$3.5 billion), according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. At …
Catastrophe modeling firm AIR Worldwide released its initial estimates of industry insured losses from the earthquake that struck New Zealand’s South Island early this week, putting a range of $762 million to $3.5 billion out for the event (NZD1.15 billion …
Catastrophe modeling firm AIR Worldwide, reported: “At 9:52 p.m. Eastern Time, on January 19 (3:52 p.m., local time, January 20), a magnitude 6.2 earthquake struck New Zealand’s North Island. The epicenter was located 111 km (69 miles) northeast of Wellington, …
According to catastrophe modeling firm AIR Worldwide, homes and roads in central New Zealand were damaged by a M6.5 earthquake on Friday, August 16, at 2:31 p.m. local time (2:31 a.m., UTC), but no serious injuries have been reported. AIR …
Jane Taylor was managing a women’s clothing store in downtown Christchurch a year ago when the earthquake struck. She was dug from the rubble within minutes with horrific injuries — her vertebrae were crushed, her skull was fractured and her …
A six-story building that collapsed and killed 115 people in last year’s New Zealand earthquake was made of weak columns and concrete and did not meet standards when it was built, the government said Thursday. The building’s designer contested the …
