International
Claims Inflation, Weakening Price Momentum Could Hit Reinsurer, London Market Profits
The global reinsurance and London market sectors face increased risks from rising claims inflation, financial market volatility and weakening price momentum, according to a commentary published by ...
South Africa’s Deadliest Floods in 6 Decades Claim More Than 300 Lives
South Africa declared floods that killed more than 300 people in the eastern KwaZulu-Natal province a disaster, enabling the government to free up funds to assist with reconstruction in the area. The ...
UK’s Flood Re Launches Scheme to Help Homeowners Raise Resilience Against Floods
Flood Re, the joint initiative between the UK insurance industry and the UK government to promote the availability and affordability of flood insurance, has launched a proposition designed to ensure ...
Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon
Preliminary economic losses from natural hazards during the first quarter of 2022 totaled $32 billion, of which less than 50 percent (or $14 billion), was covered by public and private insurers, ...
SCOR Warns of Ukraine Conflict Impact on Q1 2022 Results
In a media statement Friday, Paris-based SCOR said the company expects a first-quarter 2022 charge in the high double-digit EUR million range for potential claims related to the Russia-Ukraine ...
War With Russia Will Shrink Ukraine Economy 45%, Says World Bank
The World Bank says Ukraine's economy will shrink by 45.1 percent this year because of Russia's invasion, which has shut down half of the country's businesses, choked off imports and exports, and ...
Climate Change Protesters Disrupt Lloyd’s Headquarters
Climate change protesters in London have targeted insurance underwriting house Lloyd's of London for its role in enabling fossil fuel projects. The City of London Police said they were aware of ...
Non-Modeled Disaster Losses Are Growing Component of Insurance Claims: RMS
Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry's ...