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The capital and a number of Japanese provinces are on alert as the likelihood of an impact from Typhoon Hagibis this weekend increases.
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The storm could bring Category 1 force winds to Tokyo over the weekend.
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The storm has strengthened to Category 5 but is expected to weaken to Category 1 as it approaches the mainland.
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The carrier is among the first P&C insurers to release anticipated loss numbers ahead of the third-quarter earnings season.
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Severe, unpredictable weather is becoming more frequent, said the Insurance Bureau of Canada’s Amanda Dean.
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The typhoon is forecast to become a super typhoon with minimum 150 mph winds in the next 24 hours. -
Cedants are turning to the ILS market for solutions, says the broker’s Catherine Mulligan.
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The Munich Re Innovation Syndicate will underwrite a wide range of business starting in 2020.
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The detailed document lays out plans for reform to capital provision, claims and services administration and distributing risk.
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The EUR45mn ($49.50mn) Atmos Re I cat bond from Unipol is likely to lose nearly 50 percent due to severe weather events in Italy, according to sources.
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The number of assignment of benefits claims in Florida increased by 40.9 percent year on year in June before the implementation of the state’s new laws designed to stamp out abuses of the system.
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Pacific Gas & Electric Company has inked its $11bn wildfire insurance subrogation claims deal and criticised an alternative plan put forward.
