All Claims articles
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News2022 global nat cat claims breach $100 billion
Global losses from floods were above average, the main event being flooding in eastern Australia in February-March 2022
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New Zealand summer flood claims hit NZ$1.65 billion
Floods are the largest weather-related loss in history for New Zealand, prompting a rethink of extreme weather exposures
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Global nat cat losses surpassed $313 billion in 2022 - Aon
Flood losses in Australia broke the historical record and monsoonal floods in Pakistan had a far-reaching humanitarian impact
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Food and fuel top global cargo thefts
Thefts from hijacking have fallen as a proportion of cargo theft; these are now second to theft from facilities
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Demand for BII shoots up after COVID test cases
Insurance class to see a period of “growth and stability”, but appetite for pandemic cover remains muted
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Eastern Australia floods top 2022 ex-US cat losses for insurers
The floods generated an industry loss of $4.7 billion, while the Fukushima Earthquake caused $3.9 billion in claims - CRESTA
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PERILS pegs Southeast Australia floods at $791m
The floods primarily affected the states of New South Wales, Victoria and Tasmania during October 2022
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Pinning down inflation effects
Soaring inflation is creating issues on many levels - but there are things you as a risk manager can do
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Predictive analytics in an era of cascading risks
How effective data integration makes sense of complexity and takes risk management into a new era
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Australia’s extreme weather burden grows - ICA
Since 2005, Commonwealth expenditure on disaster relief was $24 billion, while spending on disaster resilience was just $500m
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Risk managers should ‘pick recovery over replacement’ to aid sustainability
As sustainable approaches burgeon in importance, risk managers have been urged to focus on recovery measures when disaster hits
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Flood losses ‘material’ for Korean insurers - Fitch
The heavy rainfall caused unprecedented flooding in various parts of Seoul, Gyeonggi Province and Incheon, with the Gangnam area one of the worst hit
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Floods across Asia drive H1 cat losses
Floods in India, China and Bangladesh confirm the growing loss potential from floods in urbanised areas
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APAC nat cats cost $22 billion in H1 - Munich Re
The loss tally is higher than usual with floods in Australia constituting the costliest disaster at $6.6 billion
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Fire/explosion and nat cats remain top drivers of claim severity
Contingent BI claims spike due to broken supply chains, cyber claims remain elevated and inflation will add to claims severity, finds AGCS
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Claims inflation will extend hard market - sigma
Global insurance premiums are set to surpass $7 trillion, with China now the world’s second largest market
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Cyber extortion grows in sophistication, warns Beazley
Data exfiltration is now prevalent in a significant majority of incidents as extortion techniques become increasingly complex
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Sydney flood claims begin to mount
So far, insurers have received 8,415 claims costing $97.9m, but losses are expected to rise substantially
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East Coast Floods were ‘most costly flood event’ in Australia’s history
Claims costs creep towards $5 billion four months after ICA declared the event a catastrophe
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Queensland gains additional resilience funding
It follows the devastating floods experienced in South-East Queensland in February and March this year
