According to Risk Management Solutions (RMS) insured losses arising from the Asian tsunami will be less than $4bn.
RMS said the figure stems from information gathered in the three weeks following the disaster.
The company highlighted property insurance, travel insurance and life insurance as the most affected forms of cover.
Insured damage to property in the region is estimated to range from $2.5bn to $3bn, while life and health insurance claims are expected to be less than $1bn.
In the travel insurance sector, the company said 30% of European travellers taking a holiday are likely to have a travel policy. It estimated the cost of claims to be $100m.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
