Extreme weather caused by climate change could cost Germany up to 900 billion euros [$957.2 billion] in cumulative economic damage by mid-century, a study showed on Monday, as Europe’s biggest economy seeks climate adaptation measures to cut the damages bill. …
The insurance sector saw 449 completed mergers and acquisitions (M&A) worldwide during 2022, up from 418 the previous year – the highest for a decade, according to law firm Clyde & Co’s insurance growth report. However, there was a marked …
Plastic use in G20 countries is on course to nearly double by the middle of the century unless a comprehensive and legally binding global treaty to curb consumption is drawn up, according to research published on Monday. Existing programs to …
The cyber-insurance market, battered by a rash of pandemic-era ransomware attacks, is making a comeback. Price hikes are moderating, new carriers and fresh sources of capital are emerging, and companies can better afford coverage. Cyber-insurance pricing increased 10% from a …
Declines in pregnancy- and childbirth-related deaths that took place over a decade and a half have stalled since 2015, as rates increased in some of the world’s wealthiest regions. Maternal mortality increased by 17% in Europe and North America from …
The economic and insured losses from the earthquakes that hit southern Turkey on Monday, Feb. 6 continue to escalate as damage information and data keeps pouring in. The catastrophe risk modeling firm Moody’s RMS estimated on Feb. 23 that economic …
Catastrophe modeling firm Karen Clark & Co. (KCC) said on Thursday it expects insured losses of $2.4 billion from the devastating dual Kahramanmaras earthquakes that hit Turkey earlier this month. The number of people killed by the deadliest earthquake in …
Economic losses for the Feb. 6, 2023 earthquakes in Turkey will likely exceed US$20 billion, while insured losses will likely be more than US$1 billion, according to Extreme Event Solutions at Verisk (formerly AIR Worldwide). These estimates are based on …
Most insurance payouts due to the earthquake that hit Turkey and Syria ultimately will be borne by global reinsurers, according to Fitch Ratings. “The vast majority of insured losses will be covered by reinsurance, but the amount ceded is likely …
Two powerful earthquakes, which hit southeastern Turkey on Feb. 6, 2023, deliver another blow to the local re/insurance industry, according to commentaries from AM Best and GlobalData. While it is likely that international reinsurance markets will pick up a proportion …
