Megathrust quake aftershock hazard may be underestimated: Temblor

According to new research from Ross S. Stein, Ph.D., Temblor, Inc., a catastrophe modeling company specializing in seismic hazard and risk assessment, and Shinji Toda, Ph.D., International Research Institute of Disaster Science, Tohoku University, the insurance, reinsurance and insurance-linked securities (ILS) markets may be underestimating the hazard associated with some read the full article →

UnipolSai seeks €100m cat bond quake reinsurance with Azzurro Re II 2022

Italian primary insurance company UnipolSai Assicurazioni S.p.A. has returned to the catastrophe bond market for what will be its fourth issuance, with a €100 million Azzurro Re II DAC (Series 2022-1) issuance that seeks to extend its sources of earthquake reinsurance protection from the capital markets. This new Azzurro Re catastrophe read the full article →

Japan earthquake industry loss could reach US $4bn: Verisk

The March 16th magnitude 7.3 Japanese earthquake is expected to cause an insurance and reinsurance industry loss of between US $2 billion and US $4 billion, according to analysis from Verisk Extreme Event Solutions (formerly AIR Worldwide). The earthquake which struck off the eastern coast of Japan, off Namie, Honshu island, read the full article →

Aon puts Japan quake costs in the billions, likens it to $2bn+ industry loss

Impact Forecasting, the catastrophe risk modelling focused arm of insurance and reinsurance broker Aon, has put the economic impact from this weeks magnitude 7.3 Japanese earthquake into the billions, while likening the event to the 2021 quake that caused more than US $2 billion in insured losses. As we explained yesterday, read the full article →

Q1 large losses rise on Japan quake, but no cat bond defaults expected

Yesterday's significant earthquake in Japan is likely to increase an already relatively heavy first-quarter of catastrophe and other large losses for the global insurance and reinsurance industry, according to analysts at Bank of America, while Plenum Investments said no impact to the catastrophe bond market is expected. As we reported yesterday, read the full article →

M7.3 earthquake strikes off Fukushima coast of Japan

A magnitude 7.3 earthquake struck off the eastern coast of Japan near the Fukushima prefecture in the last hour, with authorities raising a tsunami advisory for possible waves of up to 1 metre and buildings swayed in the capital Tokyo. The earthquake struck some 57 km east north-east of Namie, Japan read the full article →

Neptune Flood acquires parametric California quake specialist Jumpstart

Neptune Flood, a flood insurance specialist that uses artificial intelligence technology to provide its products, is branching out into parametric insurance with the acquisition of California earthquake specialist Jumpstart Insurance Solutions. Jumpstart launched a few years ago, offering a parametric earthquake insurance solution in the state of California only, with backing read the full article →

No room for complacency around earthquake risk: ILS Asia 2021

To the reinsurance and insurance-linked securities (ILS) market, earthquake risk is one of the biggest peril threats in the world and one that the market can’t be complacent about, according to Paul Wilson, Head of Non-Life Analytics at Securis Investment Partners. In recent years, the resilience of the ILS market has read the full article →

Croatia hit by M6.4 earthquake, strongest recorded to hit the country

Yesterday, Croatia was struck by a magnitude 6.4 earthquake that has destroyed many buildings and was the largest quake to strike the country since the introduction of modern seismic instrumentation. The M6.4 earthquake struck central Croatia at 11:19 GMT on Tuesday December 29th at a depth of 10km around 30 miles read the full article →

Izmir, Turkey earthquake industry loss estimated at EUR 55m by PERILS

The earthquake that struck off the coast of Turkey on October 30th and devastated some areas including the Izmir region is estimated to have only cost the insurance and reinsurance industry EUR 55 million, according to an estimate from PERILS AG. The earthquake cause significant property damage around the Izmir region, read the full article →