Tag: natural disaster insurance

The cost of natural disaster insurance hasn’t been this low in 6 years

Julie Campbell
Austrailia Has Seen it's Share of Natural Disaster insurance

Global insurers saw the lowest expenses associated with those catastrophes they’ve seen since 2009. According to the largest reinsurance company on the planet, last year’s costs for natural disaster insurance claims – that is, the expenses from catastrophes such as earthquakes and massive storms – were lower than they have been since 2009. The reinsurer released a report that looked back over the last year and showed it was less costly than the last six. The reinsurer in question was Munich Re, which released its analysis of natural disaster insurance…

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Climate change is proving unsettling for insurance agents

Julie Campbell
Climate Change Insurance agents Industry

Lloyd’s of London has revealed that it is starting to look into potential catastrophes from the new reality. Lloyd’s of London has just released a document that is rather unsettling to insurance agents in the way that it has shown that it is currently exploring potential apocalyptic disasters that could result from the impact of climate change on the current structure of the world. The report detailed the way that there could essentially be a worldwide meltdown from a food supply chain failure. This was far from the type of…

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Current insurance trends aren’t enough protection from climate change

Julie Campbell
Natural Disaster damage insurance trends

Wealthier nations can afford the premiums for coverage but poorer countries don’t have that privilege. The insurance trends that are currently in place do have a focus on providing protection for those who are the most vulnerable against the types of peril that the weather can cause, particularly in the case of farmers who are the primary suppliers of food. But as extreme weather becomes more commonplace, some wonder whether these efforts will be enough. While many believe that the necessary arrangements will be possible to protect against the damage…

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Understanding Natural Disasters and the Insurance Industry

Note From The Editor
risk industry cyber insurance

Natural disasters are an inherent part of the insurance industry. They are a problem that the industry has been fighting for as long as it has existed, and the battle is fraught with conflicts that insurers often lose. There is no such thing as absolute protection from natural disasters. Floods will cause damage despite the best efforts made to keep waters at bay, earthquakes will shake buildings to rubble, and tornadoes will blow houses apart. The best that the insurance industry can do is offer aid for the recover from…

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Insurance companies unaffected by climate change, says Warren Buffett

Julie Campbell
Insurance News - Warren Buffett, CEO of Bershire Hathaway

According to the Berkshire chairman and CEO, the increase in natural disasters has not impacted his insurers. Warren Buffett has revealed that the increase in natural disasters and the extreme weather from climate change around the world have not affected Berkshire Hathaway’s insurance companies. Buffett has stated that no changes have been made to the way that catastrophe calculations are made. He explained that climate change has not affected the calculations that are made in terms of determining how likely it is for a catastrophe to occur. Berkshire Hathaway Inc.…

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