AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Japanese Typhoon Hagibis in the range of $90 million to $110 million, net of estimated recoveries from reinsurance and retrocessional covers, and including the impact of estimated reinstatement premiums. …
Sydney was shrouded by smoke for a second time this week on Thursday as bushfires continued to rage along Australia’s eastern seaboard. Early morning commuters in the city center were faced with an acrid haze that stung the eyes and …
Venice suffered its second exceptionally high tide in a week, with waters rising 154 centimeters (61 inches) above their benchmark late morning Friday, the Ansa news agency reported. The historic city is still reeling from the 187-centimeter tide it recorded …
Scores of wildfires continued to rage across vast tracts of Australia’s drought-stricken east coast on Wednesday, forcing hundreds of residents to evacuate their homes, some for the second time in a week. The most intense fires were concentrated in the …
Ferocious wildfires were burning at emergency-level intensity across Australia’s most populous state and into Sydney’s suburbs on Tuesday as authorities warned most people in their paths that there was no longer time to flee. New South Wales state is under …
The Insurance Council of Australia (ICA) on Nov. 9 declared a catastrophe for the bushfires blazing in northern New South Wales. The catastrophe declaration is for communities on the mid-north coast affected by bushfires that have reportedly destroyed more than …
Australia is bracing for another week of devastating bushfires, with swaths of the eastern seaboard and even areas of greater Sydney facing a “catastrophic” threat that’s unprecedented at this time of year. It’s the first time authorities have set the …
Typhoon Hagibis is likely to become one of 2019’s costliest events, with economic costs of more than US$10 billion and insured losses minimally in the billions, according to Aon’s monthly catastrophe report. The storm made landfall in Japan’s Iza Peninsula …
Torrential rain that caused flooding and mudslides in towns east of Tokyo left at least 10 people dead and added fresh damage in areas still recovering from recent typhoons, officials said Saturday. Rescue workers found the body of a person …
The recent mega-typhoons in Japan are unlikely to affect the financial stability of the country’s three major non-life insurers due to their appropriate catastrophe risk management and strong capitalization levels, according to a new AM Best commentary. Net of reinsurance, …
