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Insurers prepare for what could be their costliest year yet


Ecclesiastica

An unusually high number of hurricanes and tornadoes have made the first six months of 2011 the costliest on record for insurers.

Lloyd's of London, the world's leading insurance market, has reported that £6.7bn has been made in claims so far this year as a result of natural catastrophes that have devastated communities in Australia, New Zealand, Japan, and the USA.

The insurance profession plays a crucial role when it comes to helping those affected by natural catastrophes, advising on preparedness and prevention as well as analysing risk. Teams of claims regulators, risk managers, and loss adjusters work hard to support clients and to understand natural catastrophes and their effects.

"Terrible events like major natural catastrophes illustrate the value and importance of insurance to society," says Clement B. Booth, board member of Allianz SE in the Allianz Risk Pulse. "The most important thing is to help those affected unbureaucratically and quickly - and to have a lot of empathy."

The Allianz Risk Pulse Focus: Natural Catastrophes report contains some interesting facts and figures surrounding the most recent natural catastrophes and information on how the risk sector is helping the victims of these attacks recover.


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