europe

Risk modelling firm AIR Worldwide has released an estimate for insured losses in Germany resulting from the recent flooding events across Central Europe. AIR estimates insured losses in Germany to be between €4 billion and €5.8 billion, that’s up to $7.7 billion in USD. The flood event is ongoing so any insured loss estimates could […]

Fitch Ratings has said in an update that it expects the recent European flooding, which hit Central Europe particularly hard, may cause insured losses of €3 billion in Germany alone. In the update published yesterday 11th June, Fitch said it expects the floods in Europe this year will be even more costly than the 2002 […]

Zurich based independent provider of industry-wide European catastrophe insurance data and loss indices, PERILS AG, has released satellite-based flood footprints for the ongoing catastrophic flooding event in Central Europe. The floods which have affected Germany, Austria, the Czech Republic and Hungary are expected to result in billions of Euros of insured losses.

Flooding across Central Europe is reaching record levels in many towns and cities after torrential rainfall struck the region in recent days. The waters are still rising in some areas of Austria, Germany and the Czech Republic and it’s possible that a meaningful insurance industry loss from this flood event could also hit reinsurers in […]

The European Commission has launched a new green paper consultation process on the topic of natural and man-made disaster insurance and risk transfer. Part of a two-pronged strategy on climate change and adaptation, the EC sees the need for a wide and public debate on the adequacy and availability of existing disaster insurance options. The […]

A recently published study suggests that western Europe will be hit by an increasing number of hurricane like and hybrid storms, not unlike hurricane Sandy, as the global climate warms. The study titled ‘More hurricanes to hit Western Europe due to global warming‘ suggests that by the end of this century western Europe could see […]

The European Insurance and Occupational Pensions Authority (EIOPA) has published its second half-year report for 2012 on the financial stability of the insurance, reinsurance and occupational pension sectors in the European Economic Area. The report says that the financial soundness of the insurance and reinsurance sector in Europe could face a ‘significantly negative outlook’ over […]

We covered two interesting insights from Aon Benfield’s recently published ILS Second Quarter Update 2011 report last week when we wrote about the Aon Benfield ILS indices and the heightened interest in catastrophe bonds among Japanese insurers. A third insight from the report looks at the cat bond market in Europe and the potential for […]

A new study from reinsurer Swiss Re shows that with drought conditions becoming more common in Europe a side effect has been an increase in the incidence of drought induced soil subsidence, resulting in higher levels of property damage. The study suggests that the changing climate will magnify the risk of soil subsidence and a […]

Marsh have announced that they are to begin selling the County Weighted Industry Loss (CWIL™) solution, which was developed in 2010 by Guy Carpenter as an index-based reinsurance contract issued by Nephila Capital. CWIL is now available to Marsh clients with exposure to U.S. windstorms or earthquakes and European windstorms.