Insured losses from natural catastrophes totalled around $53bn in 2019, according to a new report by Willis Towers Watson, down 34 percent on the previous year.
Insured losses from hail storms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on 19-20 January are set to cost A$407mn ($279mn), according to the ICA.
Catastrophe loss aggregator Perils has increased its property loss estimate for damage caused by 2018’s Sydney hailstorms from A$766mn ($527mn) in July to A$798mn ($549mn).
Aviation war insurers on risk for the Ukraine International Airlines (UIA) flight 752 that was shot down over Iran are set to pay out for the loss of the aircraft’s hull.
Insured losses from the widespread bushfires in Australia reached A$1.34bn ($923.7mn) as of 14 January, up A$345mn from an estimate four days earlier, according to the Insurance Council of Australia.
Insured losses stemming from the protests in Chile in October and December are expected to cost (re)insurers between $3bn and $4bn, with treaty reinsurers bearing substantial losses.
Insurers of the Puerto Rico Electric Power Authority (Prepa) are anticipating losses from damage to a power station and disruption to the island’s power systems following an earthquake on 7 January.
A December fire at Total’s oil refinery in Gonfreville-l’Orcher, Normandy, is set to be a $100mn property damage (PD) loss, with business interruption (BI) costs said to be heading towards $300mn.
Axis is anticipating losses of around $90mn to $110mn from Typhoon Hagibis.
The Insurance Council of Australia (ICA) reported A$110mn ($75mn) of claims as of 18 November from bushfires earlier in the month.
Berkshire Hathaway Specialty Insurance (BHSI) is the lead carrier for the builder’s risk insurance policy that is set to pay out following the collapse of the Hard Rock Hotel in New Orleans.
Chilean supermarket chain Cencosud is likely to claim upwards of $76mn on its property policy following the civil unrest which has wracked the country over the last two months.
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