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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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KBRA: Hurricane Harvey To Have Modest Impact on Underwriting Results

Kroll Hurricane 480x377
September 05, 2017

Kroll Bond Rating Agency (KBRA) predicts that Hurricane Harvey will have a modest impact on the underwriting results of those insurers exposed to the region in the coming quarters. Its report, "The Nature of Catastrophic Flooding and the Effects of Hurricane Harvey," provides historical context to the event, along with discussion of the initial loss estimates and how these losses may be covered. Given this is an ongoing event, many details and the scope of damage remain unknown, with recoverable losses likely to be spread across the insurance sector, both primary insurers and reinsurers, in addition to government entities such as the National Flood Insurance Program and the Federal Emergency Management Agency.

As a result of the effects of Hurricane Harvey, there are unlikely to be any significant changes to the capitalization of the overall US property and casualty insurance market and muted primary pricing impact due to the current surplus levels across the industry. In the midst of the busiest period of hurricane season, and with 3 months remaining in the 2017 season, KBRA notes that a second material event could further highlight strong and weak reinsurance programs. Additionally, KBRA does not anticipate negative rating actions to the KBRA-rated universe of insurance companies, and it further opines that the property and casualty insurance market is adequately positioned to absorb losses, given current capitalization levels and loss estimates.

Also from KBRA on "Kroll Bond Rating Agency Evaluates Harvey Exposure Across Its Ratings"

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