flood

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.

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.

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.

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.

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.

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.

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).

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.

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.

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.