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Claims tag returned 86 results

  • Australia increases mitigation spending by A$50m to manage Nat CAT better

    Following constant calls for a dramatic increase in funding for mitigation efforts, the senate or the upper house of Australia's bicameral parliament recently decided to increase mitigation spending by A$50m ($46.78m) on a yearly basis. This will make a significant difference to communities exposed to extreme weather and natural disasters which have become more prevalent over the last few years.

    Asia | 22 Oct 2019
  • Clyde & Co issues alert on potential claims issues from typhoon Hagibis

    Clyde & Co partner Nick Sykes recently issued an alert on the significant insured losses that could arise from typhoon Hagibis, which made landfall in Japan on 12 October.

    AIRPlus | 22 Oct 2019
  • Japan: Big Three insurers unlikely to be adversely impacted by Faxai and Hagibis

    Given their appropriate catastrophe risk management and strong capitalisation levels, Japan's three major non-life insurers - MS&AD Insurance, Sompo Japan Nipponkoa Insurance and Tokio Marine & Nichido Fire Insurance - are unlikely to be affected by the recent mega-typhoons in the country according to a new AM Best commentary.

    Asia | 21 Oct 2019
  • AIG appoints new head of claims, general insurance for Asia Pacific region

    AIG has appointed Steve Gibbs as Asia Pacific head of claims, general insurance.

    People | 18 Oct 2019
  • India: Insurance underwriting may have to rely on proxy measures

    Insurers may have to rely on what are called proxies that are very personal and individually identifiable but at the same time strongly correlated to the risk which they are underwriting, says Mr Yashish Dahiya, CEO and co-founder of insurance aggregator Policybazaar.com.

    Asia | 26 Sep 2019
  • AIR caps insured losses for Typhoon Faxai between $3-7bn

    AIR Worldwide forecasts that insured losses from Typhoon Faxai will be between JPY340bn ($3bn) and JPY740bn. The loss estimates include insured damage to property (residential, commercial, industrial and agricultural/mutual), both structures and their contents as well as automobiles from wind and storm surge.

    Asia | 19 Sep 2019
  • Japan: (Re)insurance losses from Typhoon Faxai expected to be high

    Still reeling from previous Nat CAT losses, Japan was once again struck by another Nat CAT earlier on Monday when the powerful Typhoon Faxai struck Tokyo and nearby regions, signifying a potential for relatively high insurance losses as the country gets ready to host the Rugby World Cup later this month and the 2020 Tokyo Olympics next year.

    Asia | 12 Sep 2019
  • India: Insurer penalised for rejecting mobile phone insurance claim

    State-owned general insurer National Insurance Company has been handed a INR10,000 ($139) penalty by a regional district consumer disputes redressal forum for not paying the claim of a customer whose phone had suffered damages after an accident, reported the Times of India.

    Asia | 06 Sep 2019
  • III addresses growing insurance fraud phenomenon

    The 1st annual certified private insurance investigator seminar was organised by the Insurance Institute of India (III) in Mumbai recently. The event with the theme 'quality investigations = quality results and cost savings in claims management' deliberated on the growing phenomenon of insurance fraud globally and the urgent need for trained personnel to deal with it.

    AIRPlus | 27 Aug 2019
  • Australia: Townsville flooding losses continue to surge

    The revised estimate of the property insurance market loss for the Townsville/northern Queensland flooding event in Australia between 26 January and 10 February 2019 stands at A$1.217bn ($826.4m) according to the third property loss estimate released by PERILS, an independent catastrophe insurance data provider.

    Asia | 14 Aug 2019

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