Despite advances in safety measures and culture, a repeat of the earthquake would cause economic loss of US$331bn and insurance losses around US$140bn, according to Moody's RMS and Swiss Re.
APRA’s 2023-24 Corporate Plan sets forth strategies to bolster the continuity of financial services amid rising threats, with cyber-attacks and climate-related financial risks both key concern.
An AM Best report shows financial market turbulence and an upswing in interest rates caused a historical decline in traditional reinsurance capital, while large Nat Cat losses led to reinsurers moving...
Local media reports show that over the past five years, Korean insurance companies have experienced a tripling of claims payouts and a more than fourfold rise in the number of claims.
