Though insurers around the world are holding out hope that 2012 will not be as disastrous as 2011, a new study from the U.S. Geological Survey suggests that that may not be the case. The agency has been investigating earthquakes in the isles of Hispaniola, home to Haiti and the Dominican Republic. In 2010, Haiti was rocked by a strong 7.0-magnitude quake that cost the lives of more than 300,000 people are decimated entire communities throughout the nation. Researchers say that this may not be the last big earthquake that…
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Allianz reports catastrophe losses on the rise but not the root of industry woes
Risk assessment experts at Allianz, one of the largest insurers in the world, have spoken out about the rising costs insurers are experiencing from natural catastrophe, outlining their findings in risk briefing – Allianz Risk Pulse: Focus Natural Catastrophes. With occurrences of severe weather, earthquakes and flooding, many insurance companies are seeing losses due to natural disasters and, according to Allianz, the number of companies experiencing these losses is on the rise. However, the increase may not be due to natural disasters at all. Allianz finds that the growing trend…
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