Flood insurance enters limelight in Germany Over the past week, Germany has fallen victim to a catastrophic flood that has caused a significant amount of damage in some parts of the country. The flood began at the Danube River, which is the second largest river in Europe, and several other rivers quickly began to overflow. Combined, these rivers contributed to one of the worst flood disasters in Germany’s history and have put a great deal of strain on the flood insurance sector within the country. German floods expected to have…
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European Commission plan rejected by Germany
European Commission finds opposition to banking plan German lawmakers have rejected a proposal coming from the European Commission concerning the ongoing financial crisis enveloping Europe. The European Commission has been working to solve the issues caused by the financial crisis, but has made little headway. With the help of the insurance industry, however, some problems have been resolved. Some of the world’s largest insurance companies have agreed to provide coverage and issue bonds that will help countries recover from the financial crisis. Not all of the European Commission’s proposals have…
Read MoreAIR Worldwide Updates European Wind and Earthquake Catastrophe Models
MONTE CARLO, Sept. 12, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released updates to its Extratropical Cyclone and Earthquake Models for Europe. Both models were significantly expanded to include additional European countries and provide a consistent and comprehensive assessment of the extratropical cyclone and earthquake risk throughout Europe. “AIR Worldwide offers complete and robust extratropical cyclone and earthquake models for Europe,” said Dr. Jayanta Guin, senior vice president of research and modeling at AIR Worldwide. “With the expanded regions and enhancements to these models, insurers and reinsurers now…
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