This episode of A.M. BestTV rounds up the severe weather events that
have impacted the global insurance industry, including devastating
hailstorms in Europe and the United States that are driving claims for
insurers. In addition, floods, windstorms and earthquakes take their
toll in China, Thailand and Japan.
Western and Central Europe experienced severe weather in the first half
of June, resulting in economic losses of about $3 billion dollars,
according to Aon Benfield. This marks Europe's second summer in a row of
major hail claims.
In the United States, insurers expect to pay more than $2 billion in
claims from May and June storms. The Midwest, Plains, Rockies,
Mid-Atlantic and Northeast saw some of the costliest damage. Insurers
braced for tropical storm Arthur, the first named storm of the 2014
hurricane season. Chris Hackett, director of personal lines policy for
the Property Casualty Insurers Association of America says populations
in hurricane prone areas are increasing with homes that are larger and
more expensive to replace.
Asia was no stranger to its share of peril. Typhoon Neoguri hit Japan on
July 8, striking Okinaway, with 155mph winds. Heavy rain and flooding
led to China's combined economic losses of $3.2 billion in May and June.
A 6.0 magnitude earthquake struck Thailand causing $15 million in
Click on http://www.ambest.comv.asp?v=globalrisk714
to view the episode.
Recent episodes of A.M. BestTV include:
A.M. BestTV covers exclusive A.M. Best information and reports, targeted
topics and key developments in the (re)insurance industry every Monday,
Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html.
View A.M. BestTV episodes at www.ambest.tv.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS
[ Back To NFVZone's Homepage ]