February 26th, 2014
Chart: Significant Insured Losses
Posted at 1:00 AM ET
Reports insured losses from natural disasters and man-made disasters, 2011 to 2013.
Posts Tagged ‘nat cat’
February 26th, 2014
Chart: Global Catastrophe Insured Losses
Posted at 1:00 AM ET
Chart presents individual measures for natural catastrophes versus man-made catastrophes, 1970 to 2013.
February 24th, 2014
Guy Carpenter Launches Satellite-based Catastrophe Evaluation Service
Posted at 11:30 PM ET
Guy Carpenter today launched its new satellite-based catastrophe evaluation service, GC CAT-VIEWSM, with the announcement that it has started using the service to provide clients affected by the recent UK floods with initial insured loss estimates.
February 24th, 2014
Americas Catastrophe Review, 2013
Posted at 1:00 AM ET
As with Europe, 2013 was a year of flood in the Americas, with notable events in Alberta, Toronto and Colorado. The flood event in the Calgary, Alberta area of Canada resulted in estimated insured losses of around USD2 billion, with economic losses of USD4.8 billion (1). This event, combined with flash-flooding in Toronto, Ontario in July, meant Canada experienced its most expensive insured catastrophe loss year on record.
February 20th, 2014
Asia/Australasia Catastrophe Review, 2013
Posted at 1:00 AM ET
Asia and Australasia also received their share of both natural and man-made catastrophes in 2013. One of the most costly man-made events occurred in China after a major fire hit a large microchip factory in September. The blaze caused significant damage to the SK Hynix-owned facility in the city of Wuxi, with reports saying the cost to the (re)insurance sector is expected to range between USD900 million and USD1 billion. The incident represents the most expensive single-risk loss on record to occur in China.
February 19th, 2014
Europe, Middle East and Africa Catastrophe Review, 2013
Posted at 1:00 AM ET
2013 will be remembered in Europe in part as the year of the flood, with the worst flood event affecting several Central European countries in June. Estimated insured losses from this event were around USD4.1 billion, with economic losses of around USD18 billion (1). Persistent heavy rain caused the Vltava, Elbe and Danube Rivers to overflow their banks and in some cases breach flood defenses. Countries affected included Germany, the Czech Republic, Slovakia, Austria, Switzerland, Hungary and Poland.
February 18th, 2014
Global Catastrophe Review, 2013
Posted at 1:00 AM ET
2013 provided a respite for the (re)insurance industry following above-average losses in 2011 and 2012, with insured losses from natural catastrophes and man-made disasters estimated at around USD40 billion, according to Guy Carpenter & Company (see Figure 1). This is considerably less than the ten-year average loss of approximately USD60 billion and well below the most significant years of 2005 and 2011 (see Figure 2 (Inflation adjusted)). This can be partly attributed to the unusually quiet 2013 Atlantic tropical season. About 47 percent of insured losses in 2013 were reported in the Americas, 31 percent in Europe and 20 percent in Asia and Australasia (see Figure 3). Continue reading…
February 12th, 2014
Global Catastrophe Losses Fell Well Below Average in 2013
Posted at 11:45 PM ET
Guy Carpenter & Company released its 2013 Catastrophe Review, which shows that natural catastrophes and man-made disasters in 2013 resulted in insured losses of approximately $40 billion. Following above-average losses experienced in 2011 and 2012, 2013 provided a respite for the (re)insurance industry as insured losses were considerably less than the ten-year average of approximately $60 billion.
January 20th, 2014
Chart: Gap Between Economic and Insured Losses
Posted at 1:00 AM ET
Approximately 70 percent of global economic losses from natural catastrophes were uninsured between 1980 and 2013.
Continue reading…
December 19th, 2013
Recent CAT-i reports on GC Capital Ideas
Posted at 1:00 AM ET
Here we highlight the CAT-i reports, which report on natural catastrophe events, that have appeared on GC Capital Ideas in the last quarter of 2013.
Windstorm Xaver: A powerful storm named Xaver battered Northern Europe with hurricane-force wind gusts and massive storm surges on December 6, causing widespread property damage and severely disrupting transport networks.
U.S. Severe Weather Outbreak, November 2013: A late-season severe convective outbreak has affected a large portion of the Midwest, Ohio Valley and Great Lakes including Southern Ontario. This widespread and violent outbreak has left absolute damage in communities such as Washington, Illinois. The outbreak occurred ahead of a strong cold front affecting the area. Numerous tornadoes have been reported, primarily in Indiana and Illinois, with some preliminary reports as high as an EF-4 rating on the Enhanced Fujita Scale.
Update: Super Typhoon Haiyan: Our first thoughts and concerns are with those lost or recovering from the exceptionally severe impacts of Super Typhoon Haiyan. Haiyan is among the strongest tropical cyclones ever recorded, and meets or surpasses the strongest landfalling tropical cyclone in recorded history.
Tropical Storm Karen: Tropical Storm Karen is poised to become the first named storm to hit the United States this season. Karen, as of 2PM Eastern Daylight Time, was 240 miles south-southwest of the mouth of the Mississippi River and 275 miles south-southeast of Morgan City, Louisiana.
