- Natural disasters cause $80 billion in agriculture damage in decade
A report by the United Nations Food and Agriculture Organization found that natural disasters in developing nations caused $80 billion worth of damage to agriculture during 2003-2013, reports Al Jazeera.
- Zurich Insurance to pull plug on its U.A.E. business
Zurich Insurance Group Ltd. will exit its general insurance business in the United Arab Emirates by the end of 2016, reports Reuters.
- Bushfires cause $72 million in damage
Bushfires in the Australian state of South Australia have caused $100 million Australian ($72 million) in damage, reports Daily Mail citing Australian Associated Press.
- Magnitude 6.7 quake strikes western Brazil
A magnitude 6.7 earthquake has hit western Brazil, reports Channel News Asia.
- Majority of Irish SMEs overlook exposure to cyber attacks: Survey
A survey by Zurich Insurance Group Ltd. has found that majority of Irish small and medium-sized enterprises are overlooking their cyber exposure, reports The Irish Times.
- Insurance Bureau of Canada calls for national flood program
Don Forgeron, president of the Insurance Bureau of Canada, has called for governments and industry to create a national flood program to deal with the growing costs of weather events, reported Edmonton Journal.
- Bermuda gains full Solvency II equivalence from EC
The European Commission has awarded Bermuda full equivalence under the European Union’s Solvency II regulations, The Royal Gazette reports.
- Insurance purchases grow in wake of claims
A general increase in claims spurred a jump in insurance uptake in Mexico in the third quarter, reported CNN Expansion.
- Asian liability insurance market offers significant growth opportunities: Swiss Re
Swiss Re Ltd. has said in a report that the liability insurance market in Asia is likely to offer considerable growth opportunities, reports Asia Insurance Review.