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New Zealand has warned that the final cost of damage from the deadly Cyclone Gabrielle, which hit the North Island on Feb. 12, is expected to surpass $8 billion, Reuters reported. The cyclone caused severe and widespread destruction, disrupted power and telecommunications services and blocked roads in the region.
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Turkish airlines cancel flights to Iran and Iraq amid war concerns
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms