Analysis – Page 6
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Takeaways from the 2020 Atlantic Hurricane season
A warming climate meant hurricanes were more intense and more property was at risk - FM Global
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Hard market: “Start renewals early”
Risk managers should start their renewal process early and manage their expectations as the hard market plays out, advises FM Global
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Hurricane Zeta bears down on Louisiana
Currently, Zeta’s track is a direct landfall for New Orleans, with the storm taking a similar path to Hurricane Katrina in 2005
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Restoring mangroves to build coastal resilience
Globally, mangroves reduce flood damages by $65 billion every year; insurance solutions are critical to post-storm restoration
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Greece and Portugal count cost of September storms
Medicane Ianos brought rough seas, damaging winds, and flooding rainfall to western and southern regions of Greece
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Climate change analytics tool launched
Data suite from JBA will help global financial services firms plan for their future and understand possible flood risk under different climate scenarios
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Hurricane Laura claims up to $8 billion
Cat modelling firms peg insurance losses from the Category 4 storm at between $4 billion and $8.7 billion
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Hurricane Isaias claims up to $5 billion - RMS
Isaias was the ninth named storm of the 2020 North Atlantic hurricane season, affecting parts of the Caribbean and US east coast
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Winterstorm Victoria insured loss rises to €344m
The storm, also known as “Dennis”, affected the British Isles and north-western Europe from 15 to 17 February 2020 and occurred six days after extratropical cyclone Sabine
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Flood damage erodes companies’ long-term value
Stock price of damaged firms drops 5% in the year following major floods as investor confidence declines - research
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Nat cats cost global economy $75 billion in 1H 2020
Insurers paid out $30+ billion due to natural catastrophes in the first six months of the year
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Europe counts cost of severe June thunderstorms
Total economic losses from severe storms in Central Europe are likely to approach or exceed $100 million - Impact Forecasting
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How insurability hinges on disaster mitigation
Global warming is just one factor provoking the rise in natural disasters. If we want to avoid ‘no coverage’ regions, we must invest in risk mitigation
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The importance of measuring the 'resilience dividend'
Zurich shares new risk management lessons from disaster events to help businesses become more resilient
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Firms unprepared for climate risks - survey
Global CEOs and CFOs feel they have a lack of control over climate risk, even as 80% feel they should be held accountable, finds FM Global
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FM Global launches 2020 update to Resilience Index
“When recovering after a crisis like COVID-19, resilience should be a key consideration for people, countries and businesses”
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Don’t damage trust, Airmic warns insurers
Insurers can “either interpret ambiguous contract wordings with their balance sheet in mind, or they can act as partners to long-standing customers”
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Prevent losses at idle factories - FM Global
Fires, vandalism, theft, flooding and stormy weather could leave understaffed facilities vulnerable
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Climate change “major threat” to global resilience - sigma
Failure to take immediate tangible action could lead to climate systems reaching irreversible tipping points, jeopardising insurability
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PERILS pegs winter storm losses at nearly €2 billion
Extratropical cyclones Sabine and Victoria were the 12th and 13th named storms of a very active 2019–20 European windstorm season