Catastrophe Risks

Confronted with the COVID-19 pandemic, many risk managers' immediate response was to prioritize their organizations' people, while business continuity plans that were developed as part of enterprise risk management efforts helped address pandemic-related disruptions, according to a recent survey. The Federation of European Risk Management Associations survey underscored risk management tools' importance. Read More

January 1 reinsurance renewals and related negotiations will likely be lengthier and more complex than in prior years, according to a new report from Guy Carpenter. The intermediary cites several factors that will contribute to the complexities around coming renewals, including slow and uncertain COVID-19 loss development. Read More

Alphabet, Inc., is reportedly in the process of sponsoring a $237.5 million captive-sponsored catastrophe bond to cover its California earthquake exposure. A story on the Artemis.bm website explains that Alphabet will use its Hawaii-domiciled captive insurance company, Imi Assurance, Inc., to act as fronting insurer for the risk. Read More

As the world grapples with new spikes of the COVID-19 pandemic, it's important to consider the disruptions such global crises can cause to organizations' supply chains. The COVID-19 pandemic created severe disruptions for many organizations' supply chains, and it's likely that a similarly disruptive event will occur in the future. Read More

US property-casualty insurers will continue to face new operational and risk management challenges from pandemic-related insurance losses and premium volume declines in 2021, according to Fitch Ratings. Insurers able to manage the challenges of workforce flexibility, limit risk aggregations, and reduce claims exposures will be best positioned, Fitch said. Read More