By Nuno Antunes, Managing Director Ibero/Latam Allianz Global Corporate & Specialty Climate change has increased the frequency, intensity and severity of extreme events and has a greater impact on vulnerable communities. According to the UN report “State of Climate Services 2020” published in October 2020, there have been more than 11,000 natural disasters in the last 50 years, killing 2 …
“The main lines of business to benefit will be engineering and property premiums. There will also be increased demand for marine and liability insurance”. Beyond the global recession shock inflicted by the COVID-19 pandemic this year, emerging markets are forecast to grow by around 4.4% annually over the next decade, slower than the yearly average of 5.5% in 2010-19. Against …
Flooding of the Hidroituango hydropower dam in Colombia in 2018 during construction is estimated to cost insurers around $1.4bn, one of the largest engineering claims in history. Projects are increasingly complex, often with values in the tens of billions of dollars, and can run for decades. Fire and explosion incidents most expensive losses globally. Defective product and business interruption claims …
2017 was another challenging year for the Latin American Insurance market as the industry continues to be rocked by many natural disasters and uncertain political landscapes in some countries. FIDES El Salvador 2017, Reactions Miami 6th Annual Latin American Insurance and Reinsurance Forum and the 3th Miami Latin American Claims Forum were important networking and meeting points for the insurance industry. 2017 was …
