Romanian natural hazards (re)insurance pool Pool-ul de Asigurare Împotriva Dezastrelor Naturale (PAID) has partnered with Moody’s to help the organisation better model and manage earthquake risk.
Earthquake
The parametric market uses a variety of structures and metrics to transact earthquake risk, as underwriters and brokers look to design transparent covers that will respond when their clients need it.
The University of California (UC) has switched carriers for its parametric earthquake insurance program, selecting coverage from Liberty Mutual Re (LM Re) that settles based on measurements from 180 sensors,
A preliminary 4.7 magnitude earthquake struck Malibu on Thursday morning, according to the US Geological Survey, with Los Angeles officials reporting no major damage in initial assessments.
A parametric insurance policy placed by Lockton was triggered by a 7.2 magnitude earthquake off the coast of southern Peru on 28 June 2024,
Howden Re has partnered with Temblor Inc, a catastrophe modelling firm specialising in seismic hazard and risk assessment, to improve its understanding of earthquake risk in Turkey.
Insurers have now paid out ¥90.97bn ($570mn) in claims related to the earthquake that hit the Noto Peninsula on New Year’s Day, according to the General Insurance Association of Japan (GIAJ).
The California Earthquake Authority (CEA) has $9.1bn of risk transfer in place after securing $1.16bn in protection at the April renewals, with the overall risk-transfer figure the same as at the end of 2023.
Start-up Emerald Bay Risk Solutions has entered into a strategic partnership with Arrowhead to launch a commercial quake facility providing difference-in-conditions (DIC) cover to medium to large businesses.
Insurers have now paid out ¥84.89bn ($540mn) in claims related to the earthquake that hit the Noto Peninsula on New Year’s Day, according to the General Insurance Association of Japan (GIAJ).
K2 MGU Vikco has teamed up with Atain Specialty Insurance Company on an SME quake program offering coverage in a number of Western states,
The General Insurance Association of Japan (GIAJ) has revealed that it has paid out ¥74.44bn ($481.03mn) of claims related to the earthquake that hit the Noto Peninsula on New Year’s Day.
Economic losses from the Taiwan earthquake have a high potential to reach into the “hundreds of millions” of dollars, with the event likely to result in a notable event for the local insurance industry, according to Aon.
Seven people have been confirmed dead and more than 700 are injured after a 7.4-magnitude earthquake struck Taiwan’s east coast on Wednesday.
Claims paid as a result of the January Noto Peninsula Earthquake have reached ¥61.09bn ($403.7mn), according to the General Insurance Association of Japan (GIAJ).
