The Insurance Council of Australia (ICA) has declared an insurance catastrophe for parts of South Australia, which were hit by significant hail, rain, and strong winds over the past 24 hours. Insurers have received more than 12,000 claims so far …
MEXICO CITY – Mexican billionaire Carlos Slim’s Grupo Carso said the cost of repairing a collapsed section of a Mexico City metro rail that caused a fatal accident earlier this year could amount to some 800 million pesos ($40 million). …
Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook, according to Fitch Ratings. Fitch said it expects double-digit percentage premium rate rises for property catastrophe …
Parametric catastrophe insurer CCRIF continues to strengthen Belize’s early warning systems for rainfall and climate forecasting with a new grant of US$43,140. This grant brings CCRIF’s Belize contributions to US$143,000, which began helping the country purchase and install automatic weather …
Storms that hit southern Ontario on Sept. 7 and Sept. 22 caused C$105 million (US$84.9 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). These storms …
The ongoing eruption of the Cumbre Vieja volcano, located on the La Palma Island in the Canary Islands archipelago of Spain, is a reminder to insurers of the challenges posed by non-modeled perils,” commented Michal Lörinc, senior catastrophe analyst for …
Everest Re Group Ltd. and AXIS Capital announced their preliminary third quarter 2021 catastrophe losses. In advance of its full quarterly earnings to be released on Oct. 27, 2021, Everest is estimating total Q3 pre-tax net catastrophe losses of $635 …
A magnitude 5.9 earthquake struck near Tokyo late Thursday, rattling parts of the capital the most since the March 2011 disaster. Few train services remained disrupted the next morning, while some injuries were reported. The Japan Meteorological Agency, which revised …
QUETTA, Pakistan – An earthquake of magnitude 5.7 hit southern Pakistan in the early hours of Thursday, killing 20 people, most of them women and children, and injuring about 300, at a time when many victims were asleep, authorities said. …
The extreme flooding event in Western Europe in mid-July generated the largest insurance industry loss figure so far this year – at current estimates of US$11.0 billion, according to CRESTA, the insurance industry organization that provides a global standard for …
