loss

Estimates for insured losses stemming from the record breaking flooding being experienced across much of Thailand jumped significantly yesterday as reinsurance broker JLT Re suggested that they could reach as much as $13 billion (according to some reports). This followed an update from the Insurance Commissioners Office in Thailand who only put the figure at […]

It’s been a trying year for the insurance-linked securities and catastrophe bond market as participants have had to come to terms with numerous large catastrophe events, some of which have resulted in losses to investors in specific cat bonds, a market slow down while it digested the events and the much discussed change to risk […]

Swiss Re has published a preliminary estimate for the amount of insured losses resulting from natural  and man-made catastrophes during the first half of 2011. The first six months of the year have seen some of the largest insured losses for certain perils, including the Japanese earthquake in March and some devastating and costly U.S. […]

Risk modeller AIR Worldwide has reported that tropical storm Talas, which made landfall on the Japanese island Shikoku on Friday before heading across the main island of Honshu has caused extensive damage despite being a weak storm. Talas dropped significant amounts of rainfall on Japan as it slowed and crossed the islands very slowly, allowing […]

Risk modelling firm AIR Worldwide have released an estimate for insured losses to U.S. onshore properties from hurricane Irene. They expect the final bill to be somewhere in the $3 billion to $6 billion range for re/insurers. This estimate includes wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, […]

While hurricane Irene resulted in losses and damages in six of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St. Kitts & Nevis and the Turks & Caicos Islands), the damages were not severe enough to trigger any payments under the terms of their CCRIF policies. The […]

Hurricane Irene weakened sufficiently both prior to landfall in North Carolina and as she moved up the U.S. coastline to significantly reduce the potential for insured losses from the storm. Early estimates from risk modelling firms EQECAT and Kinetic Analysis both suggest that insured losses of up to a maximum of $3 billion will be […]

The toll to U.S. insurers from the severe thunderstorms and tornadoes in April and May just keeps rising. At the end of May insurer State Farm announced that their claims payments made to clients in the wake of the severe weather were approaching $1 billion. Now, just 18 days later that total is nearing $2 […]

Risk modeller EQECAT released the first insured loss estimate for the recent 13th June M6.0 earthquake in Christchurch, New Zealand on Tuesday. Their initial loss estimate was for damages of between $3 billion and $5 billion from this event. This seems reasonable given that the city has suffered so much damage and has so many […]

The latest earthquake which struck the Christchurch area of New Zealand on the 13th June has officially been classified as a new event for insurance purposes by the New Zealand Earthquake Commission (EQC). That means that insurers and reinsurers will be on the hook for claims above the coverage level that the EQC provides.