Global Natural Disaster Losses in H1 2024 Reached $120 bn
Global natural disaster losses in the first half of 2024 reached $120 bn, down from 2023, which saw $140 bn in losses due to a severe earthquake in Turkey and Syria
Natural insured losses
Natural Insured Losses review on Beinsure Media focuses on financial losses incurred from natural disasters that are covered by insurance policies. These losses arise from events such as earthquakes, hurricanes, floods, and wildfires, which can cause significant damage to properties and infrastructure. Insurance companies assess these losses to determine the extent of their liability and to manage their risk exposure.
This category includes analysis of claims data, trends in loss frequency and severity, and the financial impact on both insurers and policyholders. By tracking these losses, insurers can improve their risk management strategies and refine their coverage options. Understanding natural insured losses helps in forecasting future risks and setting appropriate premiums.
Major Natural Disasters in H1 2024: Insights for Insurance Industry
Natural disasters amplified by climate change continue to take a bitter toll on the global economy, caused $350 bn in economic losses, with insurance covering just over $100 bn
H12024 Global Natural Catastrophe Statistics: Economic & Insurance Losses
1H 2024 saw multiple notable natural catastrophe events, which drove total year-to-date economic losses above at least $117 bn
US Severe Convective Storm: Costliest Insured Loss in H1 2024
Severe convective storm (SCS) losses in the US continued to dominate global insured losses in H1, following a highly active period for the peril
Insurance Industry Faces Challenges as Atlantic Hurricane Season Begins
The 2024 Atlantic hurricane season officially began and has already been active. Business owners found that 91% identified specific weather or natural hazards as risk
2024 Global Natural Catastrophes. Top 10 Costliest Insured Events
The total economic loss from global natural catastrophes for H1 2024 was estimated at $128 bn, insured losses totalled at $61 bn
Hurricane Beryl’s Impact on Insurance Industry: Loss Forecasts
Insured losses from Hurricane Berylcould have surged if the Category 1 hurricane had struck a densely populated Texas city like Corpus Christi or Galveston
NatCat Insured & Economic Losses Increases Due to Climate Change
Climate change will have a larger impact on economic losses in the future, according to Swiss Re Institute. A new analysis of 36 countries ranks
Insured Losses from Noto Peninsula Earthquake in Japan Forcasts
Insured losses from the 7.6 magnitude earthquake that struck the Ishikawa prefecture on the Noto Peninsula, Japan, on 1 January 2024 are likely to be small
Largest Natural Disasters Review: Thunderstorms & Earthquakes Cost
The past year was once again characterised by extremely high insured losses from natural disasters, despite the fact that there were no extreme individual losses
Natural Catastrophes Will Break Several Insured Losses Records
Natural catastrophes will once again break several insured loss records in 2023. A high number of low-to-medium-severity events will aggregate to insured losses
Global Natural Catastrophes: Fatality, Economic & Insured Loss
2023-2024 saw multiple significant disaster events, which drove total economic losses above $295 bn, approaching the 21st-century average of $310 bn
Natural Disaster Trends. Top 10 Costliest Economic & Insured Loss Events
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
Severe Thunderstorms the Main Driver for Insured NatCat losses
A series of widespread thunderstorms (severe convective storms) hit the US and account for 68% of global insured natural catastrophe losses
Global Natural Disasters Figures: $100 bn Insured Losses
2024 is a continuation of the recent run of years with high losses from natural disaster. While the overall losses of $120bn in 2023 were lower than those in 2022
2023 U.S. Insured Losses from Hurricanes Have Risen over the 15 Years
Insured losses from hurricanes have risen over the past 15 years as hurricane activity has intensified
Major Natural Disaster Eventsand Insurance Loss Insights in APAC Regions
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%
Main Factors of the Increase in Insurance Losses from Natural Disasters
When considering weather-related catastrophes, few perils have generated as many column inches in recent months as severe convective storms (SCS)
Insured Losses from Major Natural Catastrophes in H1 2023 Estimated $23 bn
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
US Severe Weather Insured Losses in Q1 2023 Ranges of $7 bn to $9.5 bn
Q1 2023 severe weather insured losses should come in at a range of $7 bn to $9.5 bn of insured severe thunderstorm storm losses from hail
Natural Catastrophes Drivers. 6 Main Lessons for Insurance Industry
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
Global Insured Losses from Natural Catastrophes Perspective
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
Global Insured & Economic Losses from Natural Catastrophes Outlook
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance
Worst Natural Disasters. Global Natural Catastrophe Review
Climate change is taking an increasing toll. The natural disaster figures are dominated by events that are more intense or are occurring more frequently
Hurricane Ian Drives Natural Catastrophe Insured Losses to $115 bn
2022 is the second consecutive year in which the estimated insured losses total more than USD 100 billion
ILS market remains a significant capital source for reinsurers in 2024. Alternative capital estemated at $110 bn, with the catastrophe bond market growing to $45 bn
In 2024, global reinsurer capital, including both alternative and traditional sources, has reached peak levels. Reinsurer capital stood at $695 bn as of mid-2024, marking a $25 bn increase
While the reinsurance industry faces challenges, such as geopolitical and economic uncertainty, its biggest threat is losing relevance. 2024 has been another year of volatility
Higher property values, urbanization, and increased repair costs are likely to drive demand for property re/insurance, particularly in regions facing heightened natural catastrophe