In the wake of last month’s tsunami in Chile and less than six months after a tsunami hit American Samoa — both events that resulted in loss of life and property — The National Oceanic and Atmospheric Administration and the …
A tropical cyclone forced Australia’s second-biggest coal port to close on Friday, bringing millions of tons of coal shipments to a halt and threatening to damage thousands of acres of sugar-cane fields. Australia’s Dalrymple Bay coal terminal ceased operations due …
French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax, which “represents approximately 3 percent of the projected …
XL Capital Ltd’s preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia indicated they will total between $160 and $230 million. Preliminary loss estimates related to the Chilean Earthquake, pretax and net of reinsurance and reinstatement …
A bulletin from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) indicates that many of its member countries “are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.” There are currently sixteen Caribbean governments, who, since 2007, …
Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America, where they cost insurers over $12.7 billion. “The death …
Hiscox Ltd. announced from its Bermuda headquarters that, from initial estimates, based on an insured market loss of US$8 billion for the Chilean earthquake, and US$3 billion for windstorm Xynthia, it estimates a combined net loss of approximately £100 million …
Chile’s mining and refinery sectors escaped damage Thursday as a series of powerful aftershocks rocked the world’s largest copper producer in the wake of one of the biggest earthquakes ever recorded. Chile’s Codelco and global miner Anglo American said all …
London-based specialty insurer Hiscox, which launched a significantly expanded U.S. presence in 2006, saw gross profits reach record levels ($481 million) in 2009. In this exclusive interview with Insurance Journal, Hiscox Chief Underwriting Officer Rob Childs discusses the profitability for …
The Bermuda-based Everest Re Group announced that its preliminary loss estimate for exposures relating to the earthquake in Chile is $225 million. It also estimated its loss for expected claims from European Windstorm Xynthia to be approximately $25 million. “Both …
