Analysis – Page 4
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Analysis
Hurricane Zeta claims to reach $4.4 billion
At landfall in Louisiana, Zeta was just shy of a Category 3 storm with one-minute sustained wind speeds of 110 mph
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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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Wide area damage principle is key to quantifying BI claims
An uptick in COVID-related BI claims is expected following the UK FCA test case, primarily from the hospitality sector
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Analysis
Hurricane Delta claims up to $3bn - AIR
Hurricanes Laura and Delta made landfall roughly 12 miles and six weeks apart on the Louisiana coast
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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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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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Analysis
Hurricane Laura makes Louisiana landfall
Laura made landfall as a category 4 hurricane with wind speeds of up to 150mph and an “unsurvivable” storm surge
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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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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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Shipping losses at record low
Consequences of coronavirus and a sustained economic downturn could however threaten long-term safety improvement
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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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US riots a “catastrophe” event - PCS
The riots have become the first PCS-designated riot catastrophe event covering more than one state
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Idle vessels face new risks, Allianz warns
Increasing disruption and economic pressures caused by the pandemic has serious risk management implications for the maritime community
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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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COVID-19: The role of climate change
Climate change and growing extremes will likely increase the threat of global pandemics, according to AIR Worldwide
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Playing for the defence: what risk managers can learn from football
From Paolo Maldini to Sir Alex Ferguson, risk managers can learn from the strategies deployed on the football pitch. And the greatest lessons come from the invisible defender: the goalkeeper or, in other words, the risk manager, writes Adriano Lanzilotto, vice-president, client service manager, (London operations) at FM Global
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How to claim it from the weatherman
Almost nine out of ten businesses are impacted by the weather. In other words, the fortunes of 88% of companies depend on meteorological conditions.
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Traditional risk management versus ERM
Traditional risk management is a one-dimensional view connected to assessing insurable risks; and ERM can help peel back the onion layers to additional dimensions of risks. So how do we go beyond one-dimensional risk assessment? Carol Williams, enterprise risk management consultant and founder of ERM Insights, has this advise
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Analysis
Everything risk managers need to know about Lloyd’s and its £1bn loss
“This performance is not of the standard that we would expect of a market that has both the heritage and quality of Lloyd’s and we are taking further actions,” says Lloyd’s chief
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Analysis
Push for better building standards to continue in 2019
Following on from the Grenfell tragedy in 2017 and significant flooding in the UK, Concordia Consultancy chairman, Paul May FIRM says this is an area that will continue to be one of note for risk managers in 2019