Catastrophe Risks
CCRIF SPC Makes Excess Rainfall Payout to Trinidad and Tobago
CCRIF SPC has paid out approximately $2.4 million to the government of Trinidad and Tobago following an August 18–20 rainfall event. The heavy rainfall resulted in flooding and landslides across southern and western Trinidad, making several roads impassable. Read More
Hurricane Ida Gulf Coast Insured Losses Estimated at Up to $35 Billion
Catastrophe risk modeling firm RMS estimates onshore and offshore US insured losses from Hurricane Ida in Gulf Coast states at $25 billion to $35 billion. The RMS estimate includes wind, storm surge, and inland flood losses across the Gulf Coast states in the landfall region: Alabama, Florida, Louisiana, and Mississippi. Read More
Survey Finds Pace of Employer Vaccination Mandates Accelerating
The pace of COVID-19 vaccination mandates by US employers is likely to increase, according to a recent survey by Willis Towers Watson. The survey also found that more companies will implement financial incentives to encourage vaccinations and will expand test requirements as they update plans to reopen workplaces. Read More
Hurricane Ida Insured Losses Estimated at $15 Billion to $25 Billion
Hurricane Ida will cause significant economic and insured losses in Louisiana and be a significant loss event for reinsurers, according to Fitch Ratings. Fitch noted that early estimates indicate a potential industry insured loss of $15 billion to $25 billion from Hurricane Ida. Read More
CCRIF SPC Making $40 Million Earthquake Payout to Haiti
CCRIF SPC will make an approximately $40 million payout to the government of Haiti following the 7.2 magnitude earthquake that struck Haiti on August 14. A CCRIF statement said the payout represents the full coverage limit under Haiti's parametric insurance policy for earthquake for the 2021–2022 policy year. Read More