Catastrophe & Restoration

Two insurance and reinsurance companies have provided loss estimates for the February 2011 New Zealand earthquake, with both companies basing their individual losses on expected industry losses upward of $12 billion.

Two insurance and reinsurance companies have provided loss estimates for the February 2011 New Zealand earthquake, with both companies basing their individual losses on expected industry losses upward of $12 billion.

Unseasonably high temperatures and wind gusts along with a prolonged drought help contribute to several destructive wildfires over the weekend.

Unseasonably high temperatures and wind gusts along with a prolonged drought help contribute to several destructive wildfires over the weekend.

The private insurance market is likely not heavily exposed to damage at nuclear reactors in Japan resulting from the 9.0 magnitude earthquake and subsequent tsunami.

Last week’s events in Japan has the world—and the insurance industry—reeling. Not only has Japan seen an enormous earthquake and the resulting tsunami, but the country is still trying to avoid what could be an even bigger catastrophe—failure of one or more nuclear power plants.