Catastrophe & Restoration

The worlds insurers, banks and pension funds are 'inherently susceptible' to threats from climate change and must make adjustments

The pretax cost was about $390 million, led by events in North America, and compares with a previous internal projection of $280 million.

About 60 million people worldwide face a lack of food because of the El Nio phenomenon that has scorched harvests in some areas and caused floods in others.

The observed deterioration may be more a result of weather events in the quarter than a sign of where the industry is heading.

Canadian insurers may be looking at claims of about US$2.8B from the recent Alberta wildfires.

After several seasons free of major catastrophes, here a gut-check on whether property and casualty insurers expect a pendulum swing and how they would respond.