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Insurance Council of Australia
Insured losses from Cyclone Debbie reach AUS$1.5 billion, 85% of claims closed
November 7, 2017 by Canadian UnderwriterInsurers have paid AUS$1 billion in claims related to Cyclone Debbie, with more than 85% of claims now closed, the Insurance Council of Australia (ICA) reported on Monday. Cyclone Debbie now ranks as the second-most expensive cyclone in Australian history,…
Insured costs for Cyclones Debbie and Cook in New Zealand upgraded to NZ$109 million from NZ$84 million in June
August 28, 2017 by Canadian UnderwriterThe Insurance Council of New Zealand (ICNZ) has upgraded the insured costs associated with Cyclones Debbie and Cook to NZ$109 million from the NZ$84.4 million estimate in June. The two cyclones swept through New Zealand during April (Cyclone Debbie from…
Australian insurers welcome Senate committee call for government to rethink funding for natural disaster mitigation
August 14, 2017 by Canadian UnderwriterInsurance Council of Australia (ICA) has welcomed a report by the Senate Economics References Committee supporting the council’s call for the federal government to invest in natural disaster mitigation and resilience, as well as back risk-based pricing. This spring, ICA…
Insured losses from Tropical Cyclone Debbie reach nearly AU$1 billion: Insurance Council of Australia
June 30, 2017 by Canadian UnderwriterInsured losses from Tropical Cyclone Debbie have reached nearly AU$1 billion as of June 28, the Insurance Council of Australia (ICA) said on Thursday. As of June 28, insurers had received more than 58,000 claims stretching from North Queensland to…
Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers
April 12, 2017 by Canadian UnderwriterThe Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as…
Southern U.S. crop losses from March storm could exceed $1 billion: Aon
April 7, 2017 by Canadian UnderwriterA weather system that brought sub-freezing temperatures to South Carolina and Georgia, as well as heavy rains in Peru were among the catastrophes with economic losses exceeding $1 billion in March, Aon plc’s Impact Forecasting unit reported Friday in its…
Insured losses from Cyclone Debbie reach AU$306 million: Insurance Council of Australia
April 4, 2017 by Canadian UnderwriterThe Insurance Council of Australia (ICA) has estimated insured losses to date from Tropical Cyclone Debbie at AU$306 million from 28,000 claims. ICA estimated the insured losses as of 9 a.m. on Tuesday. It also warned in a press release…
Cyclone Debbie barrels into Australia with damaging winds, flooding rain: AIR
March 29, 2017 by Canadian UnderwriterAustralia is experiencing its most powerful storm since 2011, as Cyclone Debbie roared ashore in Queensland, Australia as a Category 4 storm shortly after noon on Tuesday. Catastrophe modelling firm AIR Worldwide said that Cyclone Debbie struck Airlie Beach as…
Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield
March 8, 2017 by Canadian UnderwriterProlific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global…