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Insurers struggle to predict natural catastrophe risks

Posted On: Jan. 17, 2018 5:40 AM CST

Rajbir Nanra, chief executive of general insurance at Zurich Australian Insurance Ltd., said that insurers across the world are struggling to predict the severity of natural catastrophes following recent losses from man-made and natural disasters, Financial Review reported. Australia-based insurer Suncorp Group Ltd. has been accused of consistently underestimating its hazard costs after it severly underestimated the amount of claims it would recevei from a severe hailstorm in Melbourne in late 2017. 

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