A New Jersey-based nonprofit group is calling on the federal government to establish a permanent funding source to prepare for future natural catastrophes. The group, called US Strong, says in its new report that an increasing frequency of extreme weather …
“Asia-Pacific will be the dominant driver of world insurance growth by 2020,” according to a study published by Munich Re’s Economic Research Department. The report forecasts that premium income for the insurance industry in the region “will double by 2020, …
Last year may not have measured up to 2011 in terms total damages or havoc wreaked, but the nearly dozen recorded billion-dollar weather related events still ranks as impressive. That’s according to the National Oceanic and Atmospheric Administration, which recently …
State Auto Financial Corporation (STFC) estimates the impact of catastrophe losses in the third quarter of 2012 at between $6.5 million and $7.5 million in pre-tax net. It noted that during the quarter six catastrophe events in the United States …
A report out Thursday urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those endorsing it want more efforts …
The death toll from twin earthquakes in Iran has risen to 250 [later reports put the death toll in excess of 300], Iranian state television said on Sunday, while over 2,000 were injured and thousands spent the night outdoors after …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during March. Published by Impact Forecasting, the firm’s …
The loss, announced today by Lloyd’s of London, shows just how severe the second costliest year for catastrophes on record for the insurance industry actually was. Lloyd’s announced a loss of £516 million ($822 million) for 2011 – a large, …
Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer points …
According to A.M. Best Co., the frequency of catastrophe weather events represents the “new normal” for the insurance industry. “The insurance industry continues to be tested as catastrophic weather events have recently become more common and more severe,” Best said …
