Catastrophe Risks

Estimate Sets Hurricane Nicole Insured Losses at Less Than $2 Billion

November 18, 2022

Total private market US insured losses from Hurricane Nicole will be less than $2 billion, with the best estimate of $1.6 billion, according to risk modeling firm RMS. The RMS estimate represents insured losses resulting from wind, storm surge, and precipitation-induced flooding. Read More

October Ranked as the Fourth-Warmest October on Record: NOAA

November 16, 2022

October ranked as the fourth-warmest October in 143 years, according to the US National Oceanic and Atmospheric Administration (NOAA). The Northern Hemisphere experienced its second-warmest October, just behind October 2015. Meanwhile, Europe saw its warmest October on record. Read More

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