Total economic losses from volcanic eruptions could cost large cities up to US$30 billion, according to a new volcano model from Swiss Re. Calling it the “world’s first global volcano model,” the probabilistic model assesses risk in the case of…
Total worldwide economic losses for the first half of 2016 were US$70 billion, of which US$27 billion were insured, significantly higher than the first year losses of US$59 billion in 2015, of which US$19 billion were insured, Munich Re said…
As Ecuador continues to suffer aftershocks from a major earthquake the evening of April 16, catastrophe modeling vendor AIR Worldwide estimates insured losses could exceed $1 billion. In an alert published Thursday, Boston-based AIR Worldwide said it estimates that industry…
The major commercial buildings and the many seaside hotels in Ecuador are likely to be of concern to the insurance industry following the recent magnitude-7.8 earthquake in the northwestern part of the country, according to the chief research officer at…
PEDERNALES, Ecuador – Rescuers pulled survivors from rubble Sunday after the strongest earthquake to hit Ecuador in decades flattened buildings and buckled highways along its Pacific coast. Officials said the quake had killed at least 235 people and injured 1,557…