Catastrophe Risks
2022 Global Insured Natural Disaster Losses Likely To Top $100 Billion
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
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
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
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
Modeler Projects 2022 Natural Catastrophe Losses Reaching $123 Billion
Catastrophes around the world are expected to cause $123 billion in insured losses this year, well above the average of $74 billion over the past 10 years, according to a new report from Verisk Extreme Event Solutions. Verisk notes that several factors contributed to the increase in losses. Read More