PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced it has extended its market coverage to include New Zealand. PERILS is now making available market-wide property sums insured exposed to the perils of earthquake, flood and extratropical …
Insurers are partnering with the United Nations and other public groups to help the poorest countries bounce back from natural disasters that may become a more regular occurrence. As part of the program, as much as $5 billion in insurance …
Some global reinsurers have chosen to stop retrenching from catastrophe risks, deciding instead to take advantage of higher premium rates and increase their exposure, according to S&P Global Ratings. Although risk discipline is likely to prevail, global reinsurers’ greater exposure …
This post is part of a series sponsored by CoreLogic. Severe convective storms—the group name given to tornadoes, hail, and straight-line winds—are among the most common and damage-inducing natural catastrophes in the United States, frequently topping the lists of annual …
Multiple winter storms and extreme cold led to 45 deaths and cost the U.S. economy $1 billion during January, according to Aon’s Global Catastrophe Recap – January 2019. The report listed the winter storm events in the U.S. during the …
Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies …
The Asia Pacific region remains highly vulnerable to major catastrophes, RMS said, announcing a list of 10 “1-in-100-year” events possible in the vast area that includes the Pacific Ring of Fire and the largest concentration of tropical cyclones. Without providing …
The final estimate of insured property losses for Extratropical Cyclone Herwart, which primarily affected Austria and Germany on Oct. 29, 2017, is €264 million (US$300.6 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This …
The Insurance Development Forum (IDF) announced the appointment of Denis Duverne as chair of its Steering Committee, succeeding Stephen Catlin, effective Sept. 11, 2018. The IDF is a public-private partnership, led by a senior insurance industry executive and supported by …
Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according …
