Claims and losses

tokio-marine-newa-insurance-receives-fourth-capital-injection-to-meet-minimum-capital-requirements-after-surge-of-covid-19-payouts

Taiwan: Tokio Marine Newa receives fourth capital injection to help meet regulatory capital requirements in wake of Covid-19 claims

June 22 2023

TMNI needed to increase its risk-based capital ratio above 50% or risk being taken over by Taiwan's Financial Supervisory Commission.

icnz-over-nz1bn-us621m-paid-out-for-auckland-anniversary-weekend-floods-and-cyclone-gabrielle-so-far

ICNZ: Over NZ$1bn (US$621m) paid out so far for Cyclone Gabrielle and Auckland Anniversary Weekend Floods

June 22 2023

While 35% of claims have been settled, the Insurance Council of New Zealand's Chief Executive said there's still a long road ahead.

lic-announces-expedited-claims-settlement-to-victims-of-tragic-balasore-train-accident

IRDAI asks insurers to carry out 'suo motu' claim settlement for policies related to the Odisha train collision

June 6 2023

The Indian regulator has asked insurers to minimise paperwork and use official lists of passengers to expedite claims payments.

LIC announces expedited claims settlements for victims of tragic Odisha train accident

June 4 2023

On Friday, India experienced its most severe train accident of the century. Three trains derailed, causing the death of at least 288 people and injuring over 1100 more.

ica-declares-hunter-and-central-coast-hailstorm-as-a-significant-event-6021-of-7552-claims-motor-related

ICA declares NSW hailstorm a significant event - 6021 of 7552 claims motor related

May 29 2023

The destructive hailstorm occurred on Friday 26th May in the Hunter and Central Coast regions of New South Wales.

PERILS increases industry loss estimate of Cyclone Gabrielle to NZ$1.925 Billion

May 17 2023

The estimate is a 25% increase over the data provider's initial estimate in March.

Ping An paid out 600,000 claims per day in 2022

May 15 2023

The total amounts to 200 million cases over the course of the year, not to mention 280 billion yuan (US$40.28bn) in payouts.

A black and white photo of a church steeple.

Report: Australia's Catholic Church Insurance on the brink amid surge in abuse cases

May 8 2023

The bailout of AU$170 million two years ago has proven to be insufficient for The Catholic Church's insurer.

Photo of house and cars flooded in Australia.

PERILS updates loss estimate for October Southeast Australian floods to AU$907 million

April 28 2023

Personal property lines comprise 65% of the loss, followed by commercial property (25%) and then motor (10%).

Photo of oil spill with flower in the middle.

Shipowners’ Protection and Indemnity Club pledge to retrieve oil from sunken MT Princess Empress

April 26 2023

Representatives said they were commitment to an oil retrieval operation and the potential of raising the vessel

PVI to pay US$1.57m for hull insurance coverage related to fatal North Vietnamese Helicopter crash

April 26 2023

The Vietnamese insurer also confirmed they remain in discussions with families' of the pilot and four passengers

Photo of shop or commercial location that has been flooded in New Zealand.

New Zealand: 2022 set new record for extreme weather claims, but 2023 is already multiples worse

April 13 2023

The amount claimed for climate-related issues in 2023 is nearly NZ$2.5bn, dwarfing the NZ$350 million record set for 2022.

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