Catastrophe Risks

Report Cites Importance of Insurance in Natural Disaster Recovery

September 18, 2020

The average annual losses from natural catastrophes have increased dramatically in recent years, but the increased amounts of insurance penetration can have a dramatic impact on recovery time. A new report notes that average annual catastrophe losses rose from $27 billion in 1970–1980 to nearly $200 billion in 2010–2020. Read More

Haiti Receives Payout from CCRIF SPC for Tropical Cyclone Laura Losses

September 17, 2020

The government of Haiti has received a payout of approximately $7.2 million from the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) on its excess rainfall parametric insurance policy. The payout is related to 3 days of heavy rainfall associated with Tropical Cyclone Laura. Read More

COVID-19 Impact Could See Major Catastrophe Testing for Some Reinsurers

September 11, 2020

A major catastrophe combined with the impact of the COVID-19 pandemic could prove to be a capital event for some reinsurers, according to a new comment from S&P Global. Insured losses and investment volatility related to the COVID-19 pandemic have already eroded much of the global reinsurance industry's earnings buffers. Read More

Cassie Bachman Joins Arsenal as Director of Legal Affairs

September 10, 2020

Cassie Bachman has joined captive insurance manager Arsenal as director of legal affairs. In her new role, Ms. Bachman will serve as internal legal counsel for Arsenal and its subsidiaries and ensure the regulatory compliance of all the alternative risk transfer vehicles Arsenal manages. Read More

Triple-I Paper Links Rising Hurricane Costs to More Coastal Building

September 3, 2020

US hurricane seasons are becoming more expensive because more Americans are living in coastal states, according to a new white paper from the Insurance Information Institute. The white paper says that repairing and replacing sizable wind-damaged homes are among the reasons insured loss payout figures continue to climb after hurricanes. Read More