Catastrophe Risks

COVID-19 Pandemic's Economic Fallout Will Test Cyber Insurance Market

April 30, 2020

While property-casualty insurers continue to view cyber insurance as an attractive growth opportunity, economic fallout from the COVID-19 pandemic will test the US cyber insurance market, according to Fitch Ratings. The economic fallout from COVID-19 will likely affect recent premium revenue trends and the industry's claims experience. Read More

Captives Offer Options as Property Owners Face Hardening Market

April 28, 2020

Faced with a hardening insurance market, owners of multifamily housing properties are now working through renewals that bring sharp increases in rates, larger deductibles, and a decrease in capacity. When addressing all these factors, owners are starting to think more about self-insuring these risks. Read More

Captive Insurance Could Provide Solutions to Some Pandemic Risk Issues

April 27, 2020

For all the challenges the COVID-19 pandemic is presenting to businesses, the insurance industry, and society, like other crises before it the pandemic might ultimately create opportunities for captive insurance. A recent Strategic Risk Solutions webinar titled "Captive Insurance Response to a Pandemic" explored this topic. Read More

COVID-19 Business Interruption Losses Would Dwarf Previous Black Swans

April 21, 2020

Potential business interruption (BI) loss estimates from the COVID-19 pandemic dwarf previous insurance industry "black swan" scenarios such as two Hurricane Katrinas in a single month. BI losses from the current pandemic would be nearer to five Katrinas in a month, according to an insurance industry economist. Read More

IRMI Creates COVID-19 Resource Center To Help Users Navigate Pandemic

April 21, 2020

International Risk Management Institute, Inc. (IRMI), has created a COVID-19 Resource Center to help insurance and risk management professionals navigate the novel coronavirus pandemic. IRMI research analysts are examining policy provisions, monitoring state regulatory responses, and curating applicable content from IRMI's extensive library. Read More