Tag Archives: natural catastrophes

Haiyan Loss

Super Typhoon Haiyan's Eye - detailed infrared image from NASA/NOAA

Every time there is a major natural catastrophe somewhere in the world, losses are measured in several terms. First and foremost there is the human cost. While the loss of life may eventually be measured in a number, the suffering … Continue reading →

Could an Earthquake Cause the Next Financial Crisis?

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

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 →

Financing Future Catastrophes

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

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: Sandy’s Price Tag Keeps Climbing

Hurricane Sandy: Utter Destruction

The Wall Street Journal reported today that catastrophe modeling firm Risk Management Solutions is telling clients that insured losses from Hurricane Sandy could reach $25 billion or more, the highest potential estimate reported since the storm struck two weeks ago. Continue reading →

Video: Cleaning Up Environmental Claims After Sandy

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

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 →

Video: Counting the Cost of Sandy

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 →

Hurricane Sandy Will Reveal the Cost of Poor Supply Chain Management

Satellite photo of Hurricane Sandy on October 29, 2012. CREDIT: NOAA/ NRL Monterey Marine Meteorology Division

Once the full extent of the damage from Sandy is analysed, I have no doubt we will see large business interruption (BI) losses and again we will see many cases of inadequate and ineffective supplier coverage. Continue reading →