Claims and losses

Inside Ant Insurance’s strategy to digitise claims with foundational AI

August 2 2024

Ant Group is leveraging technology and vast Alipay user base to streamline claims and attract new demographics for carriers in China.

Insurers have settled 96% of Auckland Anniversary and Cyclone Gabrielle claims: ICNZ

August 1 2024

Approximately 96% of total claims and 85% of claims value have been paid out from New Zealand's 2023 twin catastrophes.

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US$67bn in H1 nat cat losses significantly higher than ten-year average: Munich Re

July 31 2024

Japan's Noto Peninsula earthquake was costliest nat cat globally, while a landslide in PNG resulted in the largest loss of life.

CyberCube estimates CrowdStrike cyber insurance losses at between US$400m and US$1.5bn

July 26 2024

Event could be the most significant single insured loss in 20-year cyber insurance history, but does not match extreme scenarios modelled by insurers, says CyberCube.

parametrix-forecasts-crowdstrike-fortune-500-related-insurance-losses-to-fall-between-us540m-and-us1-08bn

Parametrix estimates CrowdStrike Fortune 500-related insurance losses at US$540m-US$1.08bn

July 24 2024

Analysis estimates US$5.4bn in direct losses for Fortune 500 excluding Microsoft, with no more than 10 to 20% likely covered by cyber policies.

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Fitch pegs CrowdStrike insurance losses in mid-to-high single-digit billion dollar range

July 23 2024

Incident unlikely to have a significant impact on global (re)insurers' results and claims should fall within primary carriers' retentions, says Fitch.

Everest recruits Maureen Ung from Zurich as Head of Claims for Singapore

July 18 2024

Ung spent 11 years with Zurich across Australia and Singapore.

Insurance claims for June floods in southern China reach US$440m: NFRA

July 12 2024

Insurers have received 95,000 claims, with 1.1bn yuan (US$151m) in payments and pre-payments isssued so far, says regulator.

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Japan hit with two billion-dollar cat events in first half of 2024: CRESTA

July 2 2024

Japan accounts for two of four events that exceeded US$1bn in insurance losses in CRESTA's international (non-US) loss data.

NatCat - 2023 Australias Christmas Storms

PERILS' third insurance loss estimate for Australia's Christmas Storms at AU$1.563bn

July 1 2024

New figure marks a slight increase from PERILS' second industry loss estimate of AU$1.547bn (US$1.033bn).

Guy Carpenter estimates insurance losses for Kansai April hail at US$1bn

July 1 2024

Recurring hail events have prompted Japanese insurers to implement new risk management strategies, says Guy Carp.

Insurance claims hit US$85m as heavy rain and floods ravage southern China

June 24 2024

Dozens of lives lost and hundreds of thousands affected, with NFRA reporting 18,400 insurance claims so far.

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