Understanding Natural Disasters and the Insurance Industry

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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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Lloyd’s estimates risks solar storms pose to insurance industry

Insurance Industry News - Solar Flare

Insurance industry may not be suited for powerful solar storms Lloyd’s of London has released a new report concerning the emerging risks associated with powerful solar storms. A solar storm is produced by solar flares and coronal mass ejections that are directed in the general location of the planet. Typically, such events present no significant threat to the world as they are relatively rare and not directly targeted at earth. According to Lloyd’s, however, a direct hit from such an event could have cataclysmic consequences, especially for the insurance industry.…

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