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Industrial firms must do more to reduce BI risk and claims: HDI
HDI Global has published new guidance to help engineering companies develop business continuity management (BCM) and prevent business interruption claims, which it said have become increasingly serious...
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XL Catlin and partners launch crisis response service
XL Catlin has added a crisis response service for corporate clients that find themselves caught up in one of 45 named crises including natural catastrophes, criminal activities, cyber issues and...
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Pool Re hails ‘landmark’ government move to extend terror coverage to...
Pool Re has welcomed a move this week by the UK Government to begin law changes that would allow the pool to extend terrorism cover to non-damage business interruption (NDBI) losses. The first reading...
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World Cup cover runs to billions of dollars
There will be more than $2bn of event cancellation insurance in place to cover risks at the 2018 Fifa World Cup, with terrorism property protection estimated at $1bn and top players each insured for up...
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French insurers book €430m loss from May and June storms
French insurers have logged losses of more than €430m and 214,000 claims from policyholders affected by recent storms and flooding in the country, according to the French Federation of Insurance (FFA).
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Aon, Chubb and Lloyd’s team up for $500m global terrorism policy
Aon, Chubb and Lloyd’s have collaborated to bring a new terrorism and political violence insurance product to multinational buyers. The companies said the new Platinum policy offers buyers...
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China braces for deadly typhoon as Japan counts human and economic cost
China is bracing itself for the impact of Typhoon Maria, which has already led to the deadliest flood disaster in Japan since 1983, caused huge disruption and will lead to heavy insured losses, not...
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July drought in Europe to cost at least €3.5bn, Aon
Drought and wildfires across Europe last month are set to cost a minimum €3.5bn in economic losses…
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Swiss Re insured company operating collapsed Italian bridge
Swiss Re Corporate Solutions is one of the main insurers of Italian firm Autostrade per l’Italia, which operated the bridge that collapsed in Genoa last week, the reinsurer said in a statement. The...
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Genoa bridge collapse to cost insurers up to €600m
Last week’s Genoa bridge collapse will cost the insurance industry between €400m and €600m, according to analysts at JP Morgan. The firm said three companies currently understood to be exposed to the...
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Insured losses for flooding in western Japan could hit $4bn after record...
Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the flooding in western Japan caused by excessive rainfall from 28 June to 8 July will be between $2.6bn and $4bn....
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Insured losses from Typhoon Jebi estimated between $2.3bn and $4.5bn
The estimated insured property losses from Typhoon Jebi, which hit Japan on 4 September, could reach somewhere between $2.3bn and $4.5bn according to catastrophe risk modelling firm AIR Worldwide. The...
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Asia counts the cost of Typhoon Mangkhut
The clean-up from Typhoon Mangkhut has begun as the devastated areas of the Philippines, China and Hong Kong assess the loss of life and long-lasting damage that resulted from the most severe storm of...
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RMS says Florence claims could reach $5bn with 70% of flood loss uninsured
Risk modeller RMS has estimated insured losses from Hurricane Florence of between $2.8bn and $5bn, including losses to the National Flood Insurance Program (NFIP), property damage and business...
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Swiss Re launches parametric haze cover in Singapore amid rising cat exposure
Swiss Re Corporate Solutions has launched a parametric trigger-based, standalone, haze insurance solution for businesses operating in Singapore. The coverage protects companies from a potential loss of...
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