All natural catastrophe articles – Page 5
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SCSs 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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European 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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IAG 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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Gallagher Re & Africa Re partner to tackle Africa’s protection gap
Regional drought conditions and the global political environment call for prompt action around resilience and risk transfer solutions
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Evolving black swans are making the industry nervous
Past industry action has demonstrated that insurance companies take these risks ‘very much in their stride’ - Accenture
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Suncorp reveals reinsurance program changes as it braces for further flood claims
The Australian cedant’s natural hazard allowance is expected to increase to $1.2 billion, reflecting losses to date
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Thousands evacuate as Sydney floods
Over 30,000 people have been impaced as heavy rain and flooding continues to impact New South Wales
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Earth observation data: A new frontier
How satellites tracking natural catastrophes from space are an important source of data for innovative re/insurers
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Heritage details cat reinsurance program
Reinsurance to Assist Policyholders (RAP) program unnecessary despite ’deteriorating capacity for Florida risk’
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Peak Re places $150m Black Kite Re cat bond
It is the largest and first 144A catastrophe bond issued from Hong Kong
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TSR maintains above-average hurricane forecast
TSR predicts that the 2022 hurricane season may carry an increased risk in the latter part of the storm season
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SCOR sponsors $240m cat bond
Vehicle offers multi-year protection against named storms in the US, earthquakes in the US and Canada, and European windstorms
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AGCS: Above-average hurricane trend continues
Scientists believe climate change will make hurricanes wetter, increasing the risk of flooding
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Aon’s Reinsurance Aggregate records strong performance
ARA group achieved a return on equity of 10.9% in 2021 - the best result since 2014
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NOAA predicts above-average Atlantic hurricane season
Ongoing La Niña and higher Atlantic temperatures set the stage for busy season ahead
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PERILS ups loss figures for February cluster of storms
Its current insured property market loss estimate from the winter storm series is €3.6 billion
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‘Only a matter of time’ until parametrics become the norm
Why cover for IT downtime will be ‘the next stage of growth in parametric insurance’
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Climate crisis: Re/insurers must overhaul business models
Just 8% of insurers are resilience champions while 73% of policyholders rank climate among their top concerns
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Wildfires threaten New Mexico resorts
More than 300 properties in New Mexico and 500 in Orange Country have been destroyed so far
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Munich Re reports €608m Q1 profit
Annual profit guidance of €3.3 billion remains unchanged, but risk landscape presents “considerable uncertainty”