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The high cost of natural disasters

The high cost of natural disasters

News   •   Jan 15, 2016 15:50 GMT

Not much more than a quarter of global economic losses caused by natural catastrophes during 2015 were covered by insurance. During the year there were 300 separate global natural disasters, as defined by the report's authors, significantly more than the 15-year average of 269 events. These caused a combined global economic loss of US$123, yet only US$35 billion was covered by insurance.

Cost of business interruption increasing

Cost of business interruption increasing

News   •   Dec 14, 2015 09:40 GMT

​Collapsed buildings, damaged factories or destroyed shipping containers: Whenever natural catastrophes or man-made disasters strike, the physical damage is often devastating for companies. However, the less obvious economic impact from business interruption (BI) is often much higher than the cost of the actual physical damage.

The cost of catastrophe

The cost of catastrophe

News   •   Jul 30, 2015 10:21 BST

Less than a third (31%) of global economic losses as a result of natural disasters were covered by insurance (including both private insurers and government-sponsored programs) during the first half of 2015, according to a new study by Aon Benfield. This is slightly above the 10-year average of 27% because the majority of the losses occurred in regions with higher insurance penetration.

The role of insurance in managing and mitigating the risk

The role of insurance in managing and mitigating the risk

News   •   Mar 25, 2015 15:23 GMT

With 81% of large UK businesses and 60% of small companies suffering a cyber security breach in the last year, a new report published by the ​UK Govern​ment and Marsh entitled UK Cyber Security: The Role of Insurance in Managing and Mitigating the Risk has highlighted the exposure of firms to cyber attacks among their suppliers.

SMBs missing out on insurance perks due to no business continuity planning

SMBs missing out on insurance perks due to no business continuity planning

News   •   May 02, 2014 12:37 BST

Small and medium sized business (SMBs) in the UK are missing out on possible insurance deals that could be available to them if only they had a business continuity plan in place. This is according to a survey conducted by Cloud Direct of more than 500 UK SMBs.