Whether it will be a refreshing summer rain, a menacing thunder storm or a full-blown hailstorm – even the weather experts can only make an educated guess at what that particular cloud in the sky really has in store.
In his second article for Asia Insurance Review (AIR), Allianz Re CEO Amer Ahmed looks at measures the industry can take to ensure that coverage of these exposure remain available and affordable while remaining commercially viable.
With renewal season well underway, Allianz Re keeps its focus on prudent risk assessment and disciplined underwriting. CEO Amer Ahmed looks back at 2011 and the challenges faced by reinsurers in an interview with trade magazine "Reactions".
Hurricane Sandy has the Eastern Seabord of the United States on alert. The public transport systems, including the New York City subway, have been shut down as a precaution, airports are minimizing operations, people are stocking up on groceries, schools are remaining closed and so is the New York Stock Exchange.
As the drought across America sends food prices skywards for the third time in five years, extreme weather and market volatility are again battering the global food system. Crop insurances protect farmers. What measures can protect global food security?
In the late summer of 2002 Dresden was severely flooded, Prague’s old town and vast areas of countryside were under water. Ten years later, David Maréchal, senior hydrologist in the Allianz Re team for catastrophe research, speaks about what exactly happened back then in Germany, Austria and the Czech Republic, the role of climate change and the reasons rising exposure.
The summer storm season in Europe has begun. On the weekend of June 30th, storms swept across Germany, leaving behind a path of destruction. There were even some lives lost. Dr Markus Adams, a natural catastrophe expert at Allianz Reinsurance, talks with allianz.com about the events, climate change and how to act during a storm.
Taking earthquake precaution remains key to minimize damages when the earth starts shaking - even in areas that are not necessarily at extreme hazards. Allianz expert Sibylle Steimen takes a look at the risks related to earthquakes.
Allianz is active in many areas to secure the supply of food worldwide. Its commitments include innovative insurance solutions and early-warning technology in countries where agriculture is especially important.
At 3:38 p.m. local time, an 8.6 magnitude earthquake occurred 400 km out of the coast of Sumatra. A second massive aftershock occurred a few hours later. A tsunami warning had been issued immediately but was cancelled a few hours later. Sibylle Steimen, seismologist and head of cat risk management at Allianz Re, shares some facts about the event.
It was one of the most devastating natural disasters of the last decade: the earthquake and following Tsunami in Tohoku, Japan, on March 11th 2011. With a magnitude of 9.0, this earthquake was the strongest ever recorded in Japan and one of the strongest recorded anywhere in the world.
The worst flooding in German post-war history took around 60,000 people by surprise exactly 50 years ago, hitting the entire North Sea coast in the middle of the night - because the dikes were unable to withstand the pressure, the massive of water generated by strong winter storm killed 347 people. 6,000 houses were either fully or partially destroyed and many thousands of people lost their worldly possessions.
Satellite imagery of farms will help prevent famines, fight climate change and revolutionize precision farming and agricultural insurance, says Thomas Heintz, agricultural scientist and Head of the Agricultural Division at Allianz R
A 7.2 magnitude earthquake struck the Van region in southeast Turkey on October 23. Several hundred people died, thousands of buildings collapsed. Seismologist Dr. Sibylle Steimen from the Catastrophe Risk Management team at Allianz Re explains the causes and how better enforcement of building codes could save thousands of lives.