Swiss Re has announced that, based on current information, it provisionally estimates its claims cost from the earthquake in New Zealand on February 22nd to be approximately $800 million, net of retrocession and before tax. “The total insured claims for …
Lloyd’s insurer Kiln and international broker Lockton have teamed up to offer cyber insurance to small- and medium-sized online retailers. “The security and privacy cover is being made available to members of the e-retailers association Interactive Media in Retail Group …
A soon to be issued report from A.M. Best details an increase in U.S. property/casualty insurers’ asbestos and environmental (A&E) incurred losses. The industry faced a 50 percent rise in 2009, following a 47 percent decrease in 2008. Best’s estimates …
Global reinsurance giant Swiss Re said Australia’s natural disaster risk was increasing and urged its governments to cover the rising damages bill using insurance instruments like catastrophe bonds as opposed to one-off disaster levies. “Mounting exposure in Australia to catastrophes…we …
A surge in weather-related disasters in Australia could push global mining firms to overhaul supply contracts and rethink how bad weather will affect their operations and customers worldwide. Climate scientists say a warmer world will cause greater extremes of weather …
The UK’s RSA announced that the “impact of the adverse weather in November and December 2010 to be around £142 million [$229 million] more than normal levels and for the full year to be around £255 million [$408 million], or …
Floods that ravaged Australia’s northeast and swamped a major city could be the country’s most expensive natural disaster ever, the government said Monday. Flooding inundated new areas in the south Monday, where water seeped into the streets of rural communities …
