Catastrophe Risks

CCRIF SPC Pays Out $15.2 Million in October Hurricane Losses

November 8, 2022

CCRIF SPC made four payouts totaling $15.2 million to three of its member governments during October for hurricane-related weather events. The recent payouts bring CCRIF's total policy payouts to $260 million. Since its inception in 2007, the facility has made 58 payouts to 16 of its 24 members. Read More

2022 Global Insured Natural Disaster Losses Likely To Top $100 Billion

October 24, 2022

Global insured losses resulting from natural disasters are likely to exceed $100 billion for the third consecutive year, according to a recent report from Aon. Much will depend on the eventual financial outcome of Hurricane Ian, expected to be the year's costliest natural disaster event. Read More

Investors Could Reconsider ILS Investments after Hurricane Ian

October 19, 2022

Fallout from Hurricane Ian may lead insurance-linked securities (ILS) investors to reconsider ILS investments, furthering the demand/supply imbalance in the reinsurance sector, according to Fitch Ratings. Fitch said ILS represent about 20 percent—$100 billion—of global reinsurance capacity, with catastrophe bonds making up approximately 30 percent of the ILS market. Read More

United States Hit by 15 Billion-Dollar Weather and Climate Disasters this Year

October 17, 2022

The United States experienced 15 separate billion-dollar weather and climate disasters during the first 9 months of 2022, according to the National Oceanic and Atmospheric Administration National Centers for Environmental Information. Six of the weather and climate disasters occurred during the year's third quarter. Read More

Risk Modeling Firm Says Hurricane Ian Losses Could Reach $74 Billion

October 11, 2022

Risk modeling firm RMS has estimated total private market insured losses from Hurricane Ian to be between $53 billion and $74 billion, with a best estimate of $67 billion. In addition, the National Flood Insurance Program (NFIP) could see $10 billion in losses. Read More