Typhoon Haiyan struck the Philippines last week causing major floods, thousands of deaths and creating the greatest logistical challenges ever faced by the country’s government. However, despite the intensity and destruction of the storm, it has been widely reported that insurance losses are not expected to top $100m.
International News
North American News
Continual increase in NatCat perils set to keep emergency management pros in business
Eric Holdeman, writing for the USA’s Emergency Management blog, ponders how floods, hurricanes, F5 tornadoes, earthquakes, tsunamis and fires are likely to create more work for disaster management professionals in the future.
Read the article in full here.
South American News
Floods cause billions of dollars in damages to Ecuador
Guy Edwards and Keith Madden, writing for RTCC, note how international pressure to utilise Ecuador’s oil reserves will create irreversible trauma to a country already highly vulnerable to climate impacts and affected by flooding and droughts.
Read the article in full here
European News
Severe weather related events contribute to GWP shrink in Europe
Francesca Nyman, writing for the PostOnline, reports that the European market is the only area to see a decline in gross written premiums in the first 9 months of 2013. Losses relating to the floods in Europe this year are cited as key economic pressures.
Read the article in full here
African News
Deadly cyclone ravages Somalia’s Puntland
Aaljazeera news reports that as many as 300 people are feared dead after a cyclone and heavy floods hit Somalia’s semi-autonomous Puntland region.
Read the article in full here.
Asian News
Much of Eastern Asia underinsured for weather as risk
Despite a significant increase in NatCat perils affecting Eastern Asia, the region accounts for only 10% of the $700 billion in insured losses over the last three decades.
Read the article in full here.
Australian News
1350 properties in Bendigo, Australia at risk of flooding
Kristen Alebakis, writing for the Bendigo Advertiser, reports on the outcome of the Bendigo Urban Flood Study.
Read the article in full here.
Worried about the flood risk to your property?
To understand your flood risk or to discuss what you need, contact our Flood Team.
Call the team on +44 (0) 1273 006 900 or email at [email protected]
