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…
Hurricane losses in the United States equal to at least 15% of industry aggregate surplus in 2016 would likely promote a shift toward positive pricing movement, although any upward movement would be dampened by existing underwriting capacity for primary and…
In a possible but unlikely scenario of sea level rise, 1,160 private properties in San Francisco with a total exposure value of $20 billion, could be at risk in 84 years if no resilience measures are put in place, according…
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…
Weather events this week in Texas may be producing “one of the most severe flood events” in history, in Houston, not caused by a tropical cyclone Risk Management Solutions Inc. stated Thursday. The Associated Press reported that the Houston area…
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…
Risk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers…
TORONTO – Opta Information Intelligence (Opta), creators of iClarify™ and Peril Score™ analytic solutions, are proud to expand their suite of services and innovations to the Canadian property and casualty (P&C) insurance industry with the launch of Inspection Score. This…
The terrorism bomb blasts last week in Brussels “are a somber reminder of the difficulty of preventing attacks against transportation infrastructure such as airports and metro or bus stations,” notes catastrophe risk modelling company Risk Management Solutions (RMS). “As security…