insured losses

Share

First-half natural catastrophe losses way below average: Munich Re

Global economic and insurance industry losses from natural catastrophes in the first-half of 2017 have both come in way below average, with just $19.5 billion hitting re/insurers which is significantly below the $29 billion ten-year average, according to data from reinsurance firm Munich Re. Munich Re has released its latest view read the full article →

Kaikoura quake claims hit NZ $1.84 billion

Insurance claims filed in both personal and commercial lines that will fall to private insurers after the 14th November Kaikoura earthquake have now risen to NZ $1.84 billion (approximately US $1.33 billion), according to the latest data from the Insurance Council of New Zealand. The earthquake struck the Kaikoura area of read the full article →

Kaikoura quake reinsurance recovery seen at $814m by NZ gov

The New Zealand government statistical department has increased its estimate of the reinsurance recovery due to insurance companies in the country, raising it from NZ$694 million at the end of 2016 to NZ$814 million at the end of March 2017. The earthquake struck the Kaikoura area of New Zealand on the read the full article →

Canterbury New Zealand earthquake loss continues to creep

The insurance and reinsurance market loss from the 2010/11 Canterbury, New Zealand earthquakes continues to increase, with insurer Tower Group again reporting further loss creep yesterday and the industry total now estimated at $21 billion by the Insurance Council. We've written a number of times about the lengthening tail on the read the full article →

U.S. leads 2016 disaster losses due to record convective storms: Swiss Re

The global insurance and reinsurance industry suffered $54 billion of losses in 2016, according to the latest data from Swiss Re's sigma unit, with the United States leading the way due to a record number of severe convective storm events. Swiss Re's final tally for 2016 insured catastrophe and man-made disaster read the full article →

NZ insurers see $694m reinsurance recovery for Kaikoura quake so far

Insurance companies in New Zealand are set to reclaim NZ$694 million from the global reinsurance market for claims made in the wake of the 14th November magnitude 7.8 earthquake in Kaikoura, a total that is expected to rise further. The Insurance Council of New Zealand had previously revealed that over NZ$900 read the full article →

2016 U.S. catastrophe frequency the highest since 1980: PCS

2016 was the most active catastrophe year since 1980 in the U.S. as 43 PCS-designated cat events incurred insured damages of around $21 billion, according to the PCS full-year 2016 Catastrophe Review. In North America it was a fairly busy year in terms of catastrophe events, with PCS designating 43 events read the full article →

Canterbury NZ quake loss costs continue to “develop”

We've written before about the lengthening tail on the Canterbury New Zealand earthquake loss from 2010/11, as the event demonstrates that quakes are not always a short-tail catastrophe loss. Latest commentary from local insurers suggests this tail continues to lengthen. The total insurance claims loss neared $19 billion at the end read the full article →

Billion-dollar insured losses from severe U.S. weather in January: Aon

Impact Forecasting, the catastrophe risk modelling unit of reinsurance broker Aon Benfield, has said that severe weather and flooding in the U.S. in January is expected to result in an insurance and reinsurance industry loss in the billions of dollars. Impact Forecasting’s latest Global Catastrophe Recap Report (which you can download read the full article →

Kaikoura NZ quake commercial insurance claims reach $900m

Insurance industry losses from the 14th November magnitude 7.8 earthquake in Kaikoura, new Zealand are starting to be counted, with the Insurance Council of New Zealand revealing that over NZ$900 million of commercial claims have already been filed. The number only accounts for businesses that have filed claims with local domestic read the full article →