Search

The article offers information on the report on catastrophe loss estimates related to the California wildfires by the insurance company, Chubb. Topics discussed include information on the climatic factors associated with the wildfires; discussions on the commercial and personal property losses due to the wildfires; and the information on the estimation of the tax rate on catastrophe losses to the insurance company, Chubb.

The article reports that insurance company Chubb has estimated first quarter (Q1) catastrophe losses for 2018 for taxation. Topics discussed include views of California Department of Insurance on insured losses caused by mudslide in Montecito, California, losses for insurers caused by wildfire in California, and pre-tax losses from winter storms .

The article reports on the call of Aon global chief of analytic Paul Mang for insurers to use better measurement of underinsurance in 2017. Mang warned firms should not only examine the often-cited protection gap, but also produce claims estimates which demonstrate the economic consequences to disasters' delayed response. Mang stated that the use of Total Cost of Risk approach could provide a more accurate indication of administrative costs and protection gap.

Closing the protection gap remains problematic. [ABSTRACT FROM AUTHOR]

Insurance Bureau of Canada has reported that severe storms in July produced $66m in insured damage. [ABSTRACT FROM AUTHOR]

Six ports in the US are further down RMS's top ten ranking, including Plaquemines in Louisiana [ABSTRACT FROM AUTHOR]

The article reports on the decline in losses from natural and manmade disasters in 2015 based on preliminary data from reinsurance company Swiss Re. Topics covered include total economic losses from disasters amounting to 85 billion U.S. dollars, the explosions at the Chinese port city of Tianjin in August being considered as the largest manmade insured loss in Asia, and a February winter storm in the U.S. considered the largest loss-making natural disaster of the year.

Ratings will be stable, but the London non-life insurance sector's prospects are negative, suggests Fitch Ratings. [ABSTRACT FROM AUTHOR]

After a quiet first quarter, catastrophes caused significant economic losses in April, reports Aon Benfield in its latest global catastrophe report [ABSTRACT FROM AUTHOR]

Deadly February storms wrought havoc across several US states, particularly the Nor'easter storm, killing at least 15 people and affecting more than 60m people. [ABSTRACT FROM AUTHOR]

The world in 2013 faces interconnected risks from worsening extreme weather natural catastrophes and an economic malaise that threatens governments' ability to combat strategic risks such as climate change, according to this year's World Economic Forum report. [ABSTRACT FROM AUTHOR]

Second-quarter 2010 earnings for US publicly traded property/casualty insurers were down, largely as a result of catastrophe losses, but capital positions remain solid, according to Moody's Investors Service. [ABSTRACT FROM AUTHOR]

The article reports on the move of the risk modeling firm Eqecat Inc. to update its estimate of economic damages of the earthquake in Haiti in January 12, 2010. The firm estimated the damages to low-single-digit billions of dollars compared with its initial estimate in the hundreds of millions of dollars. It is noted that fatalities from the event is about ten thousands, which has triggered the Caribbean Catastrophe Risk Insurance Facility to pay eight million dollars to the country.

This article presents an interview of economists Tim Condon, Sarath Sathkumara and Jim Walker about the impact of the December 2004 tsunami disaster in Southeast Asia on the region's economy. Condon, head of financial markets research for Asia at ING Singapore, said that the disaster created an immediate need for infrastructure investment. Some of that investment could be financed by foreign investment, though the extent to which foreign financing materializes depends on many factors. Similarly, Sathkumara, portfolio manager for State Street Global Advisors, says that the disaster will have no impact on foreign direct investment and private equity flows. In fact, Sathkumara, predicts that it could even increase investment die to rebuilding. The same view is also held by Walker, chief economist at CLSA in Hong Kong. He points out that foreign investors do not look at natural disasters as being recurrent events. As to the reaction of Southeast Asian governments to the disaster, Walker says that it is too early to tell whether Sri Lanka and Indonesia will required a higher reconstruction spending. that can bet from recurrent to existing capital budgets. Sathkumara believes that privatization or public debt raising is possible.