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Townsville flood claims jump to A$606m, reinsurance impact could rise

Insurance claims from the Townsville flooding in Queensland, Australia are now estimated to have reached A$606 million, increasing the likelihood of reinsurance programs being triggered for insurers operating in the region.The Insurance Council of Australia (ICA) said that claims are being handled swiftly, but the ultimate industry loss has risen read the full article →

RMS expands Asia Pacific model coverage, enhances U.S. hurricane & specialty

Catastrophe risk modelling specialists RMS have launched version 18 of their risk model suite, brining with it a raft of additions and expansions, particularly in the Asia Pacific region where new perils have been added including a focus on flood risks.V18 is the latest incarnation of RMS' catastrophe risk modelling read the full article →

AIR launches Japan inland flood model, updates Japan typhoon model

Risk  modelling company AIR Worldwide has announced the launch of an inland flood risk model for Japan, as well as updates to its Japan typhoon risk model, both of which will be useful to reinsurance and ILS funds as they look to the country to underwrite diversifying perils.The new inland read the full article →

PCS to publish NFIP aggregate flood loss data, starting with Harvey

Property Claim Services (PCS), a division of Verisk Analytics, is to publish aggregate flood loss data supplied by the National Flood Insurance Program (NFIP), starting with hurricane Harvey, in a push to provide a more comprehensive view of national catastrophe losses.In the past, NFIP losses have been excluded from insurance read the full article →

UK floods loss finalised at £1.108bn on Eva-Frank drop: PERILS

PERILS AG has finalised its insurance and reinsurance industry loss estimate for the UK floods in winter 2015/16 at £1.108 billion, after its fourth industry loss estimate for storms Eva – Frank has been pegged at £504 million.Eva – Frank struck the UK between the 25th December 2015 to 14th January read the full article →

PERILS finalises Storm Desmond UK flood loss estimate at £604m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has finalised its industry loss estimate for the UK floods due to storm Desmond that struck the country in December 2015 at £604 million.PERILS previous loss estimate for the flooding from storm Desmond, published in June, had read the full article →

Rising losses from flooding in Forbes, New South Wales, Australia: ICA

Insurance industry losses are rising from severe flooding experienced in the area around Forbes in the Central West of New South Wales, Australia, with the Insurance Council of Australia forecasting "tens of millions of dollars" of insured losses.As with any catastrophe event in Australia there is a chance of some read the full article →

Artemis Flood & Protection Gap Executive Roundtable 2016

Welcome to our 2016 Artemis Flood & Protection Gap Roundtable in partnership with Swiss Re, in which participants explore the issues surrounding global flood insurance coverage, the resulting protection gap and how traditional and capital markets can assist to narrow this.Flood is a rapidly evolving and increasingly costly peril, responsible read the full article →

UK flood insured loss estimate falls to £1.135bn on Eva-Frank drop: PERILS

The insurance and reinsurance industry loss estimate from the UK flooding that hit the country in December 2015 and early January 2016 is now £1.135 billion ($1.56bn), after the estimate for storms Eva – Frank fell by 7%, according to PERILS AG.Zurich-based PERILS AG, a provider of industry-wide European catastrophe read the full article →

PERILS drops Storm Desmond UK flood loss estimate 10% to £597m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has reduced its estimate insurance or reinsurance market losses from UK floods due to storm Desmond in December 2015 by another 10% down to £597m ($860m).Today PERILS has released its third estimate of insured property losses caused read the full article →