As Japan Airlines Co. Flight 516 approached Tokyo’s Haneda Airport late on Tuesday afternoon, all signs pointed to an uneventful conclusion to the routine one-and-a-half hour journey from Sapporo in northern Japan. At 5:43 p.m. local time, control-tower staff told …
The death toll in the wake of the Jan. 1 earthquake off Japan’s northwest coast rose above 60 as the government doubled the number of personnel dispatched to the affected areas to bolster rescue operations. The number of reported fatalities …
The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an industry loss of US$5.8 billion, the largest ever cat loss for the Turkish insurance market, according to CRESTA, the Zurich …
AM Best has downgraded the financial strength rating of JRG Reinsurance (JRG Re) to B++ (Good) from A- (Excellent) and the long-term issuer credit rating to “bbb+” (Good) from “a-” (Excellent), while placing JRG Re’s credit ratings under review with …
All 379 people aboard a Japan Airlines (JAL) plane escaped the burning airliner after a collision with a Coast Guard aircraft at Tokyo’s Haneda airport that killed five of six crew on the smaller craft on Tuesday. Live footage on …
Climate change is making it harder to accurately predict extreme weather events, said Australia’s agriculture minister Murray Watt, amid criticism the country’s meteorology department failed to provide timely warnings of this week’s deadly storms. “Climate change is having an impact,” …
Britain’s push to become a “space superpower” is being undermined by political disarray and weak domestic investment, while showing how the nation needs international partners more than ever post-Brexit. In a case study of UK industrial strategy after leaving the …
The death toll from a powerful earthquake that toppled buildings in the Noto Peninsula on Japan’s northwest coast rose to nearly 50 as rescue workers searched for survivors trapped under rubble. One of the places hardest hit from Monday’s magnitude-7.6 …
Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy Carpenter, the reinsurance business of Marsh McLennan. …
Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4 billion) during 2023, according to the German Insurance Association (GDV). This extreme weather – also known as severe convective storms …
