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Reserving has increased substantially, inflicting another major claim on the loss-hit class.
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The impact of the cyclone, which battered New Zealand in February 2023, was worsened by previous bad weather on the North Island.
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Most of the 708,255 claims relate to residential properties and arose from Lee County, Florida.
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More than 40,000 claims have been made in relation to Cyclone Gabrelle.
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The current Australian government’s Disaster Ready Fund provides AUS$200mn annually over five years, which the ICA wants extended.
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The devastating quake left more than 50,000 dead and destroyed 160,000 buildings in Turkey.
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This publication’s tally of disclosed insured losses resulting from Russia’s invasion has increased 18% to $3.1bn.
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The estimate is an increase on the figure released by Perils in December, which gauged the insured losses at 120bn yen.
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Insurers have been flooded with litigation relating to aircraft stranded in Ukraine.
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The flooding resulted in the costliest weather event for New Zealand’s insurance industry to date.
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Following the collapse of SVB, and subsequently Signature Bank, sister publication Inside P&C analysed the exposure of several major insurance firms.
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Costs of defending and settling lawsuits are likely to fall on the bank’s D&O insurers.