Weeks of torrential rain across central and southern China have caused the country’s worst flooding since 1998, killing 173 people, ruining farms and cutting major transportation arteries — and creating potential headwinds to economy growth. A swollen Yangtze and other …
The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early June, according to a …
Property/casualty losses arising from construction defects, earthquakes, hurricanes, floods, fires, industrial accidents, tornadoes or any number of other perils can strike at almost any time. When they do, the impacts to a business can be crippling, and managing the operational, …
Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. An historic wildfire caused catastrophic damage in …
A tornado tore through the northeast of Hamburg on Tuesday evening, blowing off the roofs of several buildings, uprooting dozens of trees and damaging cars and a power line as storms that have raged across Europe this month continue to …
The Insurance Council of Australia (ICA) has expanded the footprint of the latest insurance catastrophe to include the east coast of Victoria and Tasmania’s northern and eastern coastlines. The declaration increases the insurance claims and losses attributable to the severe …
Insurers will face higher-than-expected claims related to floods in Germany, according to Fitch Ratings, dealing another blow to an industry squeezed by low interest rates and decreasing prices for policies. Claims linked to torrential rain, thunderstorms and floods that hit …
The Insurance Council of Australia (ICA) has declared an insurance catastrophe after the storms that pounded the east coast of Queensland and New South Wales (NSW) over the weekend. By Monday, June 6, insurers had received more than 11,150 claims …
Insurance executives meet with government officials in Paris Monday to assess the cost of flooding in the Centre and Ile-de-France regions as the Seine river recedes from its highest levels in more than three decades. The river flowing through the …
The insured property loss estimate for floods that hit the UK from Dec. 4 to 24, 2015, following Storm Desmond and other low pressure systems, has been revised to £597 million ($861.4 million), according to PERILS, the independent Zurich-based organization …
