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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 →

ABI sticks to final UK floods insurance bill of £1.3 billion

The Association of British Insurers (ABI) is sticking with its estimate that the final insurance bill for last winter's UK flooding will cost around £1.3 billion (approximately $1.9 billion), so impact to reinsurance and ILS markets should not creep too much higher.The ABI said today that over 15,000 insurance claims read the full article →

Climate change raises questions about Flood Re funding: Fitch

Uncertainty surrounding climate change and its influence on increased frequency and severity of extreme weather events raises questions about the funding adequacy of the UK’s government-backed reinsurance scheme Flood Re, according to Fitch Ratings.Flood Re remains scheduled for launch in April 2016, in what’s an effort from the UK government read the full article →

UK floods insured loss now £1.24bn, as Eva-Frank estimate rises: PERILS

The insurance and reinsurance industry loss from the flooding that struck the UK in December 2015 and early January 2016 is now estimated at £1.24 billion ($1.75bn) as the estimate for storms Eva - Frank rises 10%, according to PERILS AG.According to Zurich-based PERILS AG, a provider of industry-wide European read the full article →

PERILS lowers estimate for Storm Desmond UK flood losses to £662m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has lowered its estimate of insurance or reinsurance market losses from the UK flooding caused by storm Desmond at the beginning of December 2015 to £662m ($940m).The reduction of almost 8%, from the initial loss estimate for read the full article →