Tag Archives: natural catastrophes

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 →

Hurricane Sandy Likely to Trigger a Significant Volume of Commercial Property Claims

Hurricane Sandy - Oct 28 (satellite view) PHOTO CREDIT: NASA

Hurricane Sandy, a storm that forecasters say is on a scale with little precedent on the East Coast, is likely to trigger a significant volume of commercial property claims, according to experts in our claims practice.  “Given the size of … Continue reading →

Using Geo-Spatial Data to Model Flood Risk (and More…)

Flooded Street (red sign)

With UK homes and business suffering from another round of summer floods government advisors say we can expect more of the same over the next 20 years if climate change predictions are accurate. Continue reading →

The Top 5 Threats to the Energy Industry in 2012

Delegates at Willis’ second North American Energy Conference ranked the threats to the industry in order of importance to them. Here's what they said. Continue reading →

Understanding Catastrophes

Cost of Hurricane Katrina

Recent natural and man-made catastrophes are mandating that business recalibrate risk. This is because ‘worst cases’ are being exceeded all around us. Continue reading →

New Zealand Re/insurance Industry Feels Aftershocks of Quakes

The New Zealand quakes of 2010 and 2011 had a major impact on society and the cityscape--and radically changed the local insurance and reinsurance marketplace, writes guest blogger Jeremy Andrew, business development manager for Willis New Zealand. Continue reading →

Notes from Monte Carlo – What’s on the Minds of Reinsurers

I’m back from another whirlwind week of meetings and networking at the Monte Carlo Reinsurance Rendezvous and have had a chance to reflect on some of the main themes to emerge from this year’s event. Continue reading →