Cyclone Alfred payouts top US$1.5m as claims surge 50%

Opinion: As APAC’s nat cat bill rises along with the nerves of insurers, is it time for governments to lend a hand?

Commercial (re)insurance market across Asia-Pacific faces an increasing severity and frequency of climate-related risks, which are seen as the defining challenge of our time, with stakes particularly high for the region.

Cyclone Alfred claims ‘spike’ to over 22,000 as clean-up begins

Majority from Queensland, according to the Insurance Council of Australia, with claims from New South Wales set to increase in coming days.

‘Significant’ claims in the thousands expected from Cyclone Alfred, could add to premium pressure despite downgrade

Impact zone of ‘wide-ranging event’ spans over 500km, covering heavily populated areas between southeast Queensland and parts of northern New South Wales, with over 9,000 claims already lodged.

PCRIC makes US$45,000 parametric payout on coral reef cover in Cyclone Rae aftermath

Payment to an NGO in Fiji will be used for reef clean-up and restoration activities and community livelihood support hit by the tropical cyclone.