Most natural disaster databases show a significant decline in the number of annual global events prior to 1980. While the biggest natural catastrophe events are typically captured
Catastrophes and natural disasters in the Asia Pacific (APAC) region amounted to a total economic loss of $80 bn. A substantial protection gap of 86%
Insured losses from major natural catastrophes in the second quarter of 2023 are estimated to be less than $10 bn, in H1 totaled $23 bn
The current environment is complex: inflation has stayed higher for longer than expected, natural catastrophes cause increased losses
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
Re/Insurers poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year’s North Atlantic hurricane season
Political Violence (Re)Insurance Risks are escalating as the world navigates a succession of crises. Economic and geopolitical shocks have dominated agendas
Policyholders should contact their insurer to obtain the assistance they need. Many claims-filing services are available via either a mobile app or online
Property reinsurance rates rose significantly at the renewals. The losses from Hurricane Ian last year were a contributory factor
The natural disasters demonstrate that economic factors, in the last two years augmented by inflation, are the main driver of elevated insured losses from natural catastrophes
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance, the fourth highest one-year total
ILS plays a key role in allowing catastrophe risk to be transferred from the commercial insurance market to investors, providing additional (re)insurance capacity
While there was sufficient capacity to meet the reinsurance needs of cedants at 1.1, it is also true that the amount of reinsurance capital being deployed was diminished in 2022
Climate change is taking an increasing toll. The natural disaster figures are dominated by events that are more intense or are occurring more frequently
The world saw another year of impactful natural catastrophe events that once again emphasized the need to better account for the growing risks that hazards bring
