Claims and losses

Insurers explore use of AI for complex reinsurance claims

January 25 2024

The technology brings particular benefits to markets in Asia where transactions tend to be lower-value.

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Insured losses from Cyclone Jasper and Christmas and New Year storms hit AU$743m: ICA

January 24 2024

AU$202m (US$133m) of industry losses estimated from Jasper and AU$541m (US$357m) from Christmas/New Year storms, as QLD prepares for another cyclone to make landfall this week.

Insurance impact of Japan's Noto Peninsula earthquake likely to be 'small': Fitch

January 10 2024

Estimated losses are small compared to 2011's Great East Japan Earthquake, with Fitch echoing announcements from Moody's and AM Best that the credit impact on non-life insurers should be manageable.

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Verisk: industry property losses from Noto Earthquake may hit US$3.3bn

January 9 2024

Verisk's initial data analysis predicts losses between US$1.8bn and US$3.3bn, which does not account for non-property or indirect losses.

Japan New Year earthquake insured losses estimated at US$6.4bn

January 5 2024

Despite losses, Moody's Japan and AM Best say credit impact on Japanese insurers will be manageable.

IAG ups reinsurance placement for 2024

January 5 2024

"Global reinsurance markets have stabilised during 2023, allowing IAG to purchase greater reinsurance protection" says IAG CFO, William McDonnell

AIG leads US$130m insurance policy for Japan Airlines aircraft involved in Haneda crash: Report

January 4 2024

Post-landing collision with Coast Guard turboprop resulted in five deaths and first-ever hull loss for an A350.

Aussie Christmas storm claims surge to nearly 38k as ICA extends cat declaration

Aussie Christmas storm claims surge to 38k as ICA extends cat declaration

January 3 2024

Council extends insurance catastrophe declaration to cover East Coast storms, rain, and flooding in the New Year.

2023: The year in review

December 31 2023

Rates, climate risks, and technology highlight a transformative year as Asian markets, notably China and India, draw global attention for (re)insurance growth.

Gold Coast bears brunt as ICA declares 'Insurance Catastrophe' for Christmas storms

December 29 2023

QLD, NSW, and VIC claims surge past 18,000 with Gold Coast accounting for over 10,000.

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