As waterlogged Queensland, Australia, braces for another round of flooding, the Insurance Council of Australia (ICA) raised its estimate of industry losses to $1.5 billion from previous flooding to the same area.
Two groups of forecasters are predicting another busy hurricane season this year after coming off nearly spot-on predictions for a very active 2010 season.
While some people are debating the existence of climate change, reinsurers aren't taking any chances. They are doing a tremendous amount of research and modeling and are creating action plans.
So much is going on in the world of sustainable construction, green construction products, LEED (Leadership in Energy and Environmental Design) and other green initiatives--and all these activities appear to be moving fast.
We're about to say goodbye to another year and the further we distance ourselves from the dark days of 2008, the better things look for the insurance industry as a whole and insurance IT in particular.