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Climate change raises questions about Flood Re funding: Fitch

Uncertainty surrounding climate change and its influence on increased frequency and severity of extreme weather events raises questions about the funding adequacy of the UK’s government-backed reinsurance scheme Flood Re, according to Fitch Ratings.Flood Re remains scheduled for launch in April 2016, in what’s an effort from the UK government read the full article →

Storm Desmond UK floods insured loss $1bn+ (£717m): PERILS

The UK flooding caused by storm Desmond at the beginning of December is estimated to have caused £717 million ($1.035 billion or €950m) of insurance, and perhaps reinsurance, industry losses, according to PERILS AG.PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, provides its first estimate read the full article →