Inflation continues to have an effect on property exposures with sums insured for European windstorm increasing by 10.1% year-on-year at constant euro exchange rates, at similar levels to 2023, according to PERILS AG, the independent Zurich-based company that provides industry-wide …
Typhoon Lan reached the coast of central Japan early Tuesday, grounding flights and halting trains as residents braced for heavy rain, flooding and landslides. Known locally as Typhoon No. 7, the storm has been traversing the archipelago’s central belt since …
Japan is preparing for its second typhoon in a week, with airline companies canceling flights and rail operators halting some operations. Typhoon Lan is forecast to make landfall Tuesday in central Japan near Osaka, the country’s second largest metropolitan area, …
A powerful typhoon barreled through southwest Japan on Monday, unleashing torrential rains and lashing winds that killed at least two people, triggered floods and caused thousands to evacuate to safety. Typhoon Nanmadol is heading on a northeast path along the …
The effects of human-caused climate change were responsible for roughly $4 billion of the $10 billion in insured losses resulting from Typhoon Hagibis that struck Japan in October of 2019, according to a new analysis of the storm. Hagibis, which …
Japanese companies have contingency plans for the floods that increasingly drench this island nation, but most have done little to fortify facilities, relying instead on insurance and securing alternative supply sources, a Reuters poll found. Japanese have long been conditioned …
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. …
A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that ends in March. Japan’s …
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 …
Insured losses stemming from Typhoon Hagibis in Japan are estimated to range between US$$7 billion and $11 billion, according to Newark, Calif.-based catastrophe modeling firm RMS. While last month’s Typhoon Faxai was a wind-driven event, RMS estimates typhoon flooding from …
