Country Profile - Taiwan: How Taiwan is addressing its NAT CAT exposure
Source: Asia Insurance Review | Aug 2009
Taiwan is exposed to various natural catastrophic perils – earthquakes, typhoon and floods. In recent years, the country experienced two catastrophic events that significantly impacted the insurance industry – Chi Chi earthquake in September 1999 and Typhoon Nari in September 2001. Ms Danny Yeung, Managing Director, Guy Carpenter & Company Ltd, tells us that Taiwanese insurers are confident of their risk management and catastrophic exposures today as they move toward adopting ERM and Solvency II standards.
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