All extreme weather articles – Page 2
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NewsNat cats cost insurers $99 billion so far in 2022
Economic losses through the end of Q3 2022 are estimated at $227 billion, representing a protection gap of 56 percent
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NewsCatastrophic floods hit three Australian states
More extreme weather is on its way with widespread rain and storms forecast across eastern Australia later this week
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NewsFlood Re’s resilience scheme offers substantial dividend - JBA
The take up of Property Flood Resilience could have a major impact on projected flood losses in the UK
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NewsGallagher Re develops risk financing strategy for Senegal
It will combine public and private capital to finance the growing risks posed by climate change and food insecurity
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NewsReinsurers risk misunderstanding secondary perils due to cat models
PWC predicts a ‘pretty expensive year’ as secondary perils drive up losses ahead of H2’s Florida hurricane season
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NewsAXA launches forest restoration program
Research from the program will be shared at a European level, to strengthen biodiversity and climate resilience
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NewsSwiss Re takes drastic action to cut RVS carbon footprint
There is a very obvious impact from climate change on secondary perils after a summer of extremes
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NewsPERILS adds European flood to its repertoire
Demand is growing for industry loss triggers as cedants seek alternatives amid the ongoing hard market - CEO Hitz
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NewsInvestment losses, nat cats and Ukraine dent 1H22 results
There was a strong year-on-year decline in profitability in 1H22 for the four main European reinsurers, reports Fitch
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NewsShift away from cat risks creating more “stable” market
A number of re-alignment initiatives have been taking place for at least the last three years, notes AM Best
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NewsArgo reveals $22.5m net loss for H1
With a combined ratio of 95.6%, the group benefited from more favourable pricing and its exit from catastrophe lines
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NewsAon taps University of California to enhance wildfire model
Recent events in North America have changed the perception of wildfire as a secondary peril
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NewsMunich Re reveals €130m of drought losses in Q2
The reinsurer generated a profit of €1.4 billion in the first six months of the year driven by strong organic growth in property-casualty reinsurance.
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NewsEffects of climate change evident in H1 cat events
The record-high temperatures in many parts of Europe is expected to drive further losses caused by droughts and wildfires
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NewsH1 nat cat losses reach $65 billion - Munich Re
The US led the loss tally with almost half of overall economic losses in the first six months of 2022, and nearly two thirds of insurance losses
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NewsSCSs drive $39 billion in 1H nat cat claims
Claims were 18% higher than the 21st century average, with Severe Convective Storms accounting for over half of losses
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NewsEuropean wildfires rise 75% YOY
As wildfires have only recently been considered a material peril, the modelling is not as developed, finds Chaucer
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NewsIAG renews aggregate reinsurance program
It comes as the claims tally from floods in Sydney reaches 8,415, with numbers expected to grow substantially
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NewsLloyd’s MGA Aura launches parametric solution for the Caribbean
Pay-outs are based on the hurricane category that intersects the insured’s radius location (typically 40 miles)
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NewsHow climate change will shape offshore exposures
Climate change puts offshore energy and shipping sectors under increasing pressure - Chaucer
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