Relentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,…
Earthquakes are estimated to cost the United States US$6.1 billion annually in building stock losses, according to an updated report published last week by the Federal Emergency Management Agency (FEMA). The new loss estimate represents a 10% increase over the…
Total economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total…
The recent wildfires in Alberta cost Aspen Insurance Holdings Ltd. roughly US$30 million, net of reinsurance and reinstatement premiums, the Hamilton, Bermuda-based carrier suggested in a press release Wednesday. Aspen’s initial estimate, of pre-tax losses, net of reinsurance and reinstatement…
The General Insurance Association of Japan (GIAJ) reports that claims paid in the wake of the Kumamoto earthquake in mid-April totalled 317 billion yen, or about US$3.1 billion, as of June 20. Specifically, there have been 239,749 inquiries made, 222,981…
Insured losses from the two earthquakes that struck Japan in April could be as high as US$1.7 billion to US$2.9 billion, with economic losses of US$5.5 billion to US$7.5 billion, industry experts suggested on Wednesday. Guy Carpenter & Company, a…
MASHIKI, Japan — At least nine people have been killed and more than 800 injured by a magnitude 6.5 earthquake that toppled houses and buckled roads in southern Japan. With daybreak, the extent of the damage became apparent: collapsed buildings, streets…