Insurance news from Germany warns residents of increasing premiums

German insurance industry

The GDV industry association has said that the rise will be 1.5 percent this year. The GDV has just announced the latest insurance news, that insurers in Germany, including Talanx AG and Allianz SE, will likely be posting an increase in their premiums of 1.5 percent by the year’s end. It is believed that the premiums growth will increase to €180.7 billion ($230 billion). Among the explanations for these premiums increases are that the country has seen some of the highest levels of property and casualty growth that it has…

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Italy turns to the insurance industry to help with crippling debt crisis

Italy is on the verge of a financial meltdown, which may have dire ramifications for the global economy. Investors and financial institutions have begun casting doubt on Italy’s ability to survive a financial disaster, and now the government is turning to the insurance industry for help. Italian officials are looking to adopt disaster insurance to help mitigate the impact of a potential economic catastrophe. The country’s debt – more than $2 trillion – could mean that it is beyond rescue, even for the insurance industry. The insurance industry in Europe…

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AIR Worldwide Launches Inland Flood Model for Germany

BOSTON, Nov. 7, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released an inland flood model for Germany that offers a fully probabilistic approach for determining the likelihood of flood losses from all types of storms. The model provides insurers and reinsurers with a robust tool for managing inland flood risk – allowing companies to make informed underwriting decisions, to monitor and quantify aggregate concentrations of flood risk across their portfolios, and to assess the potential impact of less frequent but large loss events. “To meet the challenge of…

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