disaster

The latest sigma study from reinsurance company Swiss Re has been published today and it shows that natural catastrophes and man-made disasters in 2012 caused economic losses of $186 billion and insured losses of $77 billion. A number of large-scale weather events in the U.S. helped to push up the insured loss total for the […]

The world’s largest reinsurer Munich Re has published some interesting data and insight into just how much growth the insurance and reinsurance markets will see in the Asia-Pacific region in the future. This is a topic we have written about many times, that as regions of the world develop more rapidly the need for re/insurance […]

The Asian Development Bank (ADB) is supporting the development of a public-private initiative to create the first earthquake insurance pool for the Philippines. The project aims to launch a functioning earthquake insurance involving government, local insurers and the international insurance and reinsurance community by 2015 and the ADB has committed an initial grant of $500,000 […]

A report published last week by the Asian Development Bank (ADB) discusses the need for robust natural disaster risk financing solutions to be employed in the Asia-Pacific region to strengthen its disaster resilience. The report says that natural disaster losses have risen more quickly than Asia-Pacific’s economy has expanded. At the same time insurance penetration […]

Reinsurance broker Aon Benfield’s catastrophe model development arm Impact Forecasting released its latest annual study of catastrophe events and the resulting economic and insured losses yesterday. The Annual Global Climate and Catastrophe Report looks back at the disasters of 2012 and provides statistics and analysis on the year versus prior loss years. Hurricane Sandy, unsurprisingly, […]

Further details have emerged on the new disaster insurance facility which launched last week to provide parametric insurance cover for tropical cyclone and earthquake risks to a group of Pacific Islands. The parametric catastrophe facility has been set up by the World Bank and the Secretariat of the Pacific Community (SPC) Pacific Catastrophe Risk Assessment […]

A new disaster insurance facility has been officially launched today to provide parametric insurance cover for tropical cyclone (typhoon) and earthquake, including tsunami, risks to a group of Pacific Islands. The pilot project, launched today by the World Bank and the Secretariat of the Pacific Community (SPC) Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) […]

The United States (U.S.) dominated natural catastrophe insured losses in 2012, according to the world’s largest reinsurer Munich Re in its review of worldwide natural catastrophes which it published this week. As much as 90% of the global natural catastrophe insured loss total is attributed to events in the U.S. with Munich Re saying that […]

Ever since the devastating earthquake and tsunami struck Japan in March 2011 the country has received a lot of attention regarding the high level of exposure to a variety of natural disasters and catastrophes. Chinese solar panel and module manufacturer Phono Solar is addressing the broad catastrophe risks in Japan by introducing a natural disaster […]

Once again the Asian Development Bank (ADB) has renewed calls for catastrophe bonds to play a part in providing risk transfer and financial protection to enable recovery from major natural catastrophes in the Asia-Pacific region. The ADB has been growing increasingly concerned about the impacts a changing climate will have on the region where 7 […]