Wildfire Archives - InsuranceAsia News https://insuranceasianews.com/industry_segments/wildfire/ Tue, 08 Oct 2024 09:30:38 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Australia to experience more severe cyclones this season on warmer seas https://insuranceasianews.com/australia-to-experience-more-severe-cyclones-this-season-on-warmer-seas/ Tue, 08 Oct 2024 09:12:48 +0000 https://insuranceasianews.com/?p=164364 The Bureau of Meteorology also warned of severe thunderstorms, flooding and heatwaves until next April.

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Australia is expected to face a higher likelihood of severe tropical cyclones in the 2024-25 tropical cyclone season, according to the nation’s weather agency.
This increased risk is linked to the war...

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]]> ICA says additional US$92m funding for Australia disaster resilience falls short of needs https://insuranceasianews.com/ica-says-budget-funding-for-disaster-resilience-falls-short-of-the-nations-need/ Wed, 15 May 2024 10:07:27 +0000 https://insuranceasianews.com/?p=153953 The (re)insurance industry body has welcomed the Australian government's additional disaster support funding outlined in the 2024-25 federal budget.

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The Insurance Council of Australia (ICA) said while it welcomes the additional disaster support funding outlined in the 2024-25 federal budget as it will help ease insurance costs for Australians, the...

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]]> New South Wales pushes insurance monitor bill to lower premiums for consumers https://insuranceasianews.com/nsw-tasks-insurance-monitor-to-ensure-premiums-fall-with-emergency-services-reform/ Sun, 12 May 2024 22:30:42 +0000 https://insuranceasianews.com/?p=153762 The state government is seeking to ensure that the goals of emergency services levy reform, including lower premium and punishing price exploitation, are met through new rules and amendment.

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New South Wales government has proposed a bill to appoint an insurance monitor to ensure that insurance premiums will reduce for policyholders that have been shouldering the burden of funding the coun...

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]]> Wild weather troika of heatwave, bushfire, cyclone bear down on eastern Australia https://insuranceasianews.com/wild-weather-troika-of-heatwave-bushfire-cyclone-bear-down-on-eastern-australia/ Sun, 10 Dec 2023 22:30:54 +0000 https://insuranceasianews.com/?p=139919 Bureau of Meteorology (BOM) has put out a heatwave warning, a severe thunderstorm warning, a minor flood warning over the weekend even as Cyclone Jasper loomed.

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Eastern Australia is being hit with sweltering heat, as temperatures soared to 43 degrees Celsius in Sydney, with bushfires raging across New South Wales even as the region prepares for flooding with ...

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]]> Australian carriers brace for claims as deadly bushfires rage across New South Wales, Queensland https://insuranceasianews.com/australian-carriers-brace-as-deadly-bushfires-rage-across-new-south-wales-queensland/ Thu, 26 Oct 2023 23:30:11 +0000 https://insuranceasianews.com/?p=137197 With over 100 fires burning, several dead, homes burned down and thousands of hectares of land destroyed, it is being described as the worst fire season since the 2019-20 black summer.

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Australia is facing the worst bushfire season since the 2019-20 black summer as lightning strikes sparked major bushfires across New South Wales and Queensland.
Brokers, insurers and loss adjusters ar...

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]]> Ominous start to spring weather in Australia, New Zealand puts (re)insurers on high alert https://insuranceasianews.com/ominous-start-to-spring-weather-in-australia-new-zealand-puts-reinsurers-on-high-alert/ Sun, 24 Sep 2023 23:15:18 +0000 https://insuranceasianews.com/?p=134943 Bushfires, an El Niño declaration, record rain, landslides, heavy snow and an earthquake in the last few days point to busy six months ahead for claims' handlers.

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With El Niño and a positive Indian Ocean Dipole being officially declared by Australia’s Bureau of Meteorology (BoM), spring in Australia and New Zealand has started poorly with a deluge of claims exp...

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]]> Australia’s BoM declares El Niño and positive Indian Ocean Dipole as bushfires spark across three states https://insuranceasianews.com/australia-declares-el-nino-and-indian-ocean-dipole-bom/ Wed, 20 Sep 2023 02:50:37 +0000 https://insuranceasianews.com/?p=134758 The combination, last seen in 2015, means warmer and drier conditions for at least the next three months increasing the risk of bushfires.

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Australia’s Bureau of Meteorology (BoM) has declared that the two weather phenomenons El Niño and a positive Indian Ocean Dipole (IOD) are underway.
Warmer and drier conditions will be more likely ove...

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]]> Australia’s carriers brace for bushfire losses fueled by El Niño https://insuranceasianews.com/australias-carriers-brace-for-bushfire-losses-fueled-by-el-nino/ Tue, 12 Sep 2023 21:45:35 +0000 https://insuranceasianews.com/?p=134205 For the first time since 2019, Australia’s eastern states face heightened risks due to high temperatures, ample vegetation and a rapidly desiccating landscape, say risk modellers.

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With warmer climate and drier conditions driving wildfire risks around the world, notably Canada, Hawaii, Spain, Italy and Greece, this year, Australia is bracing for a potentially dangerous bushfire ...

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]]> Hawaii wildfire insured property losses to hit US$3.2bn: KCC https://insuranceasianews.com/hawaii-fire-insured-property-losses-to-hit-us3-2bn-kcc/ Wed, 16 Aug 2023 02:06:26 +0000 https://insuranceasianews.com/?p=132002 Tokio Marine, DB Insurance and MS&AD have exposure to the state's 'most destructive' ever fire, which has burned over 2,200 structures in the historic town of Lahaina.

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US cat specialist Karen Clark & Company (KCC) estimates that the insured property losses from the wildfire that recently hit the historic Hawaiian town of Lahaina are set to reach around US$3.2 bi...

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]]> Tokio Marine, DB and MS&AD face losses from devastating Hawaii wildfires https://insuranceasianews.com/tokio-marine-db-insurance-on-hook-for-devastating-hawaii-wildfires/ Mon, 14 Aug 2023 23:45:10 +0000 https://insuranceasianews.com/?p=131855 The catastrophe is likely to lead to hundreds of millions of dollars of claims as overall costs climb to US$6bn.

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Asian carriers Tokio Marine, DB Insurance and MS&AD Group that have large exposures to the Hawaiian property and casualty market are set to face the brunt of the devastating wildfires which are se...

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