Catastrophe Risks

COVID-19 Adding to the Challenges Facing Florida Property Insurers

July 9, 2020

COVID-19 is adding to the challenges of Florida property insurers, who were already dealing with higher reinsurance pricing and social inflation. Read More

Lloyd's Offers Framework for Covering Pandemics, Systemic Catastrophes

July 2, 2020

Lloyd's of London has proposed potential solutions for business interruptions resulting from government-ordered shutdowns due to pandemics or other crises, including open-source frameworks for addressing systemic catastrophic events. The solutions and frameworks include two frameworks that would require government/(re)insurance industry partnerships. Read More

COVID-19 Pandemic Could Contribute to Record Catastrophe Losses

June 30, 2020

Guy Carpenter said the COVID-19 pandemic looks to rank among the insurance and reinsurance sector's most expensive events, contributing to total 2020 catastrophe losses ranging from $100 billion up to $160 billion. The pandemic also could be one of the slowest developing catastrophes insurers and reinsurers have experienced. Read More

COVID-19 Pandemic Has an Impact on June 1 Reinsurance Renewals

June 24, 2020

June 1, 2020, renewals provided the first test of the COVID-19 pandemic's impact on reinsurance markets, resulting in property-catastrophe pricing increases. Read More

Updated Forecast Projects Well-Above-Average Atlantic Hurricane Season

June 9, 2020

An updated forecast of 2020 Atlantic hurricane activity developed by researchers at Colorado State University predicts 19 named storms, including 9 hurricanes, 4 of them major hurricanes. The Colorado state forecasters said they anticipate "well-above-average activity" this hurricane season. Read More