Tag Archives: natural catastrophes

Could an Earthquake Cause the Next Financial Crisis?

by Giorgio Brida, May 15, 2013 | Posted in Analytics, Financial Services, Reinsurance

SS Curved Lines on Paper 125960423 May 13 13

On January 17, 1995, an earthquake struck the Japanese port city of Kobe, killing 6,500 people and destroying $100 billion worth of property and capital. Five weeks later, Barings Bank was declared insolvent after admitting losses of $1.3 billion, twice the … Continue reading →

Natural and Cyber Catastrophes Bring Reputational Risk to the Fore

by George Haitsch, April 12, 2013 | Posted in Global Risks

Sandbags for Flood

Risks associated with a company’s corporate reputation are evolving as a major topic of conversation and concern among risk managers. Continue reading →

Chile Earthquake 3 Years On: The Dust has Finally Settled

by Guest Blogger, April 2, 2013 | Posted in Latin America

Chile 2010 Earthquake Headlines

The 8.8 earthquake that hit the central coast of Chile on 27 February 2010 was the biggest natural disaster that the Chilean general insurance market has ever had to face. Continue reading →

Australian Bushfires: “Dome of Heat” Breaks Temperature Records: Initial Costs Counted

by Guest Blogger, January 9, 2013 | Posted in Australasia, Natural Catastophe

Firefighters Battling Bushfires in Southern Australia (Source: TheAge.com.au, Karl Hofman)

Large parts of central and southern Australia are suffering from a persistent heatwave that has caused catastrophic bushfires across Tasmania, New South Wales and Victoria. They are the worst bushfires to affect the area since ‘Black Saturday’ in 2009, which … Continue reading →

Financing Future Catastrophes

by Alice Underwood, December 5, 2012 | Posted in weather risk

Hurricane Sandy: Seaside Heights, NJ. 31 October 2012. Credit EPA

I read an interesting analysis of the current state of play with regard to financing disasters in the New York Times Opinion pages recently. Continue reading →

In a World of Climate Change There is a Growing Need for Climate Forecasting

by Rowan Douglas, November 27, 2012 | Posted in weather risk

Stormy Sky and Sea

In late October 2012, the largest Atlantic hurricane on record slammed into New York, one of the world’s most populated cities and one of its leading financial and economic centres. Continue reading →

Video: Cleaning Up Environmental Claims After Sandy

by Anthony Wagar, November 13, 2012 | Posted in Environmental Liability, weather risk

Hurricane Sandy, Atlantic City, NJ. 31 October 2012. Credit: EPA

There’ll be a lot of complex claim scenarios following the natural disaster named Sandy that struck the heart of America’s most populous region. Among the most complicated will be those that involve the release of hazardous contaminants or pollutants. Continue reading →

How the Property Marketplace is Reacting to Sandy

by Colleen McCarthy, November 9, 2012 | Posted in North America, weather risk

Hurricane Sandy: NJ. A handout photograph provided by the US Air Force on 31 October 2012 shows aerial views of the damage caused by Hurricane Sandy to the New Jersey coast, taken during a search and rescue mission by 1-150 Assault Helicopter Battalion, New Jersey Army National Guard, in New Jersey, USA, 30 October 2012. Credit EPA

Even before all the lights are back on in the Northeast, Superstorm Sandy is changing our view of the property market.  With recovery and assessment activity underway, claims continue to escalate and the insurance marketplace is reacting. Continue reading →

Now The Storm Has Passed…

by Clare Kerrigan, November 5, 2012 | Posted in North America, Reinsurance

Hurricane Sandy: NJ coast. A handout photograph provided by the US Air Force on 31 October 2012, taken during a search and rescue mission by 1-150 Assault Helicopter Battalion, New Jersey Army National Guard, in New Jersey, USA, 30 October 2012. Credit: EPA

Over the past three days, Willis has been sending teams to the areas in New Jersey hit by Hurricane Sandy. Catastrophe Analysts have been surveying the damage in New York and other severely damaged barrier islands accessible to the general … Continue reading →

Video: Counting the Cost of Sandy

by Sarah Robson, November 2, 2012 | Posted in North America, weather risk

Hurricane Sandy: Seaside Heights, NJ, 31 October 2012. Credit: EPA

Willis CEO and Chairman Joe Plumeri talks to CNBC about the cost of Hurricane Sandy to the insurance industry and U.S. economy. Continue reading →