Flood

Munich Re’s head of global reinsurance has urged the market to learn the lessons of the past year the most expensive ever in terms of cat losses.

Singapore-based Lloyd’s Syndicate 1965 has become the latest victim of the regions catastrophe strewn year as it announced that it will no longer be accepting new business. 

Last year was the most expensive in history in terms of economic losses but the level of payments faced by global underwriters had highlighted the need for greater insurance penetration.

This year will go down as the most expensive in history for economic losses due to catastrophes according to preliminary estimates from Swiss Re’s sigma team...

The industry's first Multiple Peril Crop Insurance Model for China was released today at the 11th Singapore International Reinsurance Conference...

A new mapping study has revealed some of the world’s fastest growing populations are increasingly at risk from the impacts of climate related natural hazards and sea level rise...

Swiss Re’s annual Sigma study into natural catastrophes has reported a significant rise in the economic and insured costs for major disasters in 2010. However there is a call for the booming emerging economies to direct greater amounts of funding to disaster mitigation and to drive the creation of insurance markets to meet the threat.

Insured losses from the Queensland floods and New Zealand earthquake combined will produce a number usually only seen in peak catastrophe zones. So is it time for re/insurers to re-evaluate their exposures Down Under? 

While recent catastrophes spell the end to softening prices in the mining sector, it could also drive further risk retention.

© World Business Media Ltd 2012. All rights reserved.