“We are seeing an increasing trend across California where people at risk of wildfires are being non-renewed by their insurer,” state Insurance Commissioner Ricardo Lara said in a statement.The California Department of Insurance “has seen cases where homeowners were paying an annual premium of $800-$1,000 but, upon renewal, saw increases to as high as $2,500-$5,000,” a staggering rise of more than 300 percent in most cases.

AM Best believes that the losses from Typhoon Hagibis will be largely driven by flood impact, rather than wind damage. Given the record breaking level of rainfall in some areas, as well as the relatively high population density surrounding Greater Tokyo, AM Best expects that the three mega-insurance groups’ gross losses from Typhoon Hagibis will be as significant as that from Typhoon Faxai, albeit possibly less severe than Typhoon Jebi in 2018.

“The demand for credit insurance is incredibly high,” said Graham Bristow, managing director in credit solutions for insurance broker Aon, one of the largest firms arranging such deals. “There is no doubt Brexit is one theme, people are nervous.”

British data shows the total number of people employed in the City between 2016 and 2018 overall rose by 31,000, though the total number of people employed specifically in banking and insurance is down 3,000 over the period.