typhoon Goni

Typhoon Goni is now heading towards what is forecast to be a Category 2 or 3 hit on Kyushu, Japan, putting insurance exposures in cities such as Nagasaki at risk and potentially exposing reinsurance contracts, as well as two catastrophe bonds, Akibare II and Aozora Re.

Typhoon Soudelor, which struck Saipan, Taiwan and China recently killing at least 41 people and wreaking destruction from strong wind and torrential rainfall, has once again highlighted that the protection gap, between economic and insured losses, remains wide.