Claims and losses

China floods: insurance claims reach 260,000

August 15 2023

Damages from typhoon Doksuri and significant flooding are estimated to be around US$1.3bn, according to China's regulator.

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Regulator urges quick settlement of 189k insurance claims, after heavy rains cause $868m in damage in China

August 8 2023

Following heavy rain and typhoon damage, China's NFRA calls on insurers to fast-track settlements across the 16 disaster-effected regions.

PERILS releases third loss estimate for Auckland Anniversary floods

August 4 2023

PERILS's latest estimate puts the New Zealand flood loss figure at NZ$2bn.

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Japanese Vessel with Indian seafarers engulfed in flames, salvage operations taking place

July 27 2023

The Fremantle Highway roll-on roll-off vehicle carrier experienced a devastating fire off the Dutch coast while transporting 2,857 vehicles, including electric vehicles - leading to the death of at least...

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Claims expected to exceed 14m yuan (US$1.95m) as Chinese regulator urges swift claims processing for Yinchuan gas explosion

June 23 2023

At least 13 insurers are working swiftly to settle claims for families and victims of the tragedy.

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.

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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.

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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.

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