Aon Benfield Conference Underlines ‘Complexity’ of Catastrophic Events
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., will urge insureds and insurers to “look at the bigger picture as cat events become more complex,” at its 12th...
View ArticleInsurers Face Huge Losses from Latest Deadly Tornadoes
Less than a year after a series of tornadoes caused some of the worse insured losses in U.S. history, the insurance industry is likely facing substantial costs again after storms killed at least 33...
View ArticleAIR Offers Supply Chain Risk Service
AIR Worldwide (AIR) has expanded its suite of Catastrophe Risk Engineering (CRE) products to help quantify, mitigate, and manage the risk associated with the impact of catastrophes on supply chain...
View ArticleACE Expands Catastrophe Capacity in North America
The ACE Group has increased catastrophe limits to $30 million across all its North American retail and wholesale broker-distributed commercial property lines of business. This capacity will be offered...
View ArticleUnderinsurance of Property Is Growing Global Challenge: Swiss Re Report
The underinsurance of property risk – particularly natural catastrophe risks – has risen steadily over the past 40 years, even though claims payments have increased significantly during that period,...
View ArticleGap Between Insured & Economic Losses Offers Business Opportunities: AIR
A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, AIR Worldwide determined in a new report. What the catastrophe modeling firm...
View ArticlePaulson’s PaCRe Shuts Down After Investment Slump, Bermuda Tax Uncertainties
Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd.,...
View ArticleXL Catlin Exec Heads Public-Private Forum to Close ‘Protection Gap’ for...
The insurance industry, the United Nations and the World Bank have formed a public-private partnership designed to help bridge the “protection gap” for developing nations, which struggle increasingly...
View ArticleEcuador to Raise Taxes, Sell Assets to Fund Multi-Billion Dollar Quake...
Ecuador will temporarily increase some taxes, sell assets, and may issue new bonds on the international market to fund a multi-billion dollar reconstruction after a devastating 7.8 magnitude quake, a...
View ArticleRe/Insurance CEOs Join Insurance Development Forum, UN & World Bank Initiative
A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural...
View ArticleCat Simulations Test London Insurers’ Vulnerabilities to Next ‘Big One’
A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in...
View ArticleHiscox Appoints RMS’ Khare as Group Head of Catastrophe Research
Specialist insurer Hiscox has appointed Shree Khare as group head of Catastrophe Research. Khare will lead the research that directly informs Hiscox’s own view of risk and its underwriting strategies...
View ArticleInsurers Will Easily Swallow Harvey’s Claims but Growing Climate Risk Predicted
Damages from Hurricane Harvey’s ravaging of Houston and the Texas Gulf Coast are estimated to be well below those from the major storms that hit New Orleans and New York in recent years, insurance...
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