Tag: philippines

One of the Most Powerful Typhoons Ever Recorded Strikes Philippines

PR Article
wind insurance

According to catastrophe modeling firm AIR Worldwide, Super Typhoon Haiyan, one of the most powerful tropical cyclones since modern record-keeping began, made  landfall at 5:00 a.m. local time on November 8, 2013 (21:00 UTC on November 7) near Guiuan, on the Philippine island of Samar. At that time, the Japan Meteorological  Agency (JMA) estimated a minimum central pressure of 895 millibars and maximum 10-minute sustained wind speeds of 266 km/h (165 mph). The Joint Typhoon Warning Center estimated maximum sustained wind speeds of 305 km/h (190 mph). According to AIR, since…

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Insurance industry in the Philippines shows promising growth

Dan
Philippines Insurance Industry

First quarter provides momentum to insurance industry The global insurance industry has shown some promise during the beginning of 2013. The industry, as a whole, has been struggling to overcome the challenges it faced over the past few years, many of which came at the hands of unexpectedly powerful natural disasters. In the Philippines, new reports from Emmanuel F. Dooc, Insurance Commissioner of the Philippines, suggest that the first quarter of 2013 was very beneficial for the country’s insurance industry. Commissioner Dooc provided his report to a recent United Nations…

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Typhoon Bopha (Pablo) Impacts the Philippines: AIR Worldwide

Guest Author
Typhoon Bopha - Image Credit Wikipedia

According to catastrophe modeling firm AIR Worldwide, Super typhoon Bopha made landfall at 2100 UTC on the island of Mindanao with a central pressure of 930 mb and 10 min sustained winds of 100 kts (115 mph)). NASA-TRMM data indicate that there were maximum rainfall rates of 50-75 mm/hr at landfall. According to AIR, given that insurance penetration in this area is around 10% to 20%; insured losses are not expected to be high as a result of this event. “Bopha is a unique storm due to its intensity and…

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Flood insurance may become more expensive in the Philippines

Nordstrom
Tropical Strom Haikui

Tropical Strom Haikui exacts terrible toll on Philippines capital A devastating flood has caused havoc in the Philippines in the wake of Tropical Storm Haikui. Heavy rains from the storm, as well as those occurring after the event, have caused nearly of fifth of the bustling metropolis of Manila to be submerged. More than 900,000 residents have been evacuated from the area, seeking refuge outside of the city and on nearby islands that were not affected by the disaster. The main island of Luzon suffered a serious blow to its…

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