Catastrophe Risks
Pandemic, Catastrophes Pose Risk to Insurers' Second-Half Results
The COVID-19 pandemic will continue to have an impact on US property-casualty insurers' results in the second half of 2020, though pandemic-related losses will likely be outweighed by catastrophe losses, according to Fitch Ratings. Insurers' full-year combined ratio will likely move toward 100 percent from the 98 percent at midyear. Read More
CapAlt Webinar Focuses on Risk Management Strategy for Chaotic Times
An upcoming webinar from Captive Alternatives (CapAlt) aims to help businesses understand how alternative risk transfer can help them prepare for what's ahead. The webinar, scheduled for 1 p.m. (EDT) on Thursday, October 8, 2020, will focus on how CapAlt's private insurance risk management strategy can help small and middle-market business owners. Read More
Surplus Proving Invaluable to Captive Owners in Current Environment
Marsh set up 76 new captives in the first 6 months of 2020, and its captive insurance leader said she expected more to come in the next 18 months. The number of new formations was more than a 200 percent increase compared to the same period in 2019. Read More
COVID-19 Pandemic Highlights Need for a New Approach to Resilience
The COVID-19 pandemic has amplified the challenge posed by a siloed approach to business continuity management and crisis management, according to a new report examining risk professionals’ response to the crisis. The report found that the pandemic has highlighted a frequent disconnect between strategic risk and operational resilience and response. Read More
RMS Says Insured Losses from Western US Wildfires Could Hit $8 Billion
Catastrophe risk modeling firm RMS estimates that insured losses from wildfires in the western United States will be between $4.0 billion and $8.0 billion. RMS said the projected losses reflect estimates as of September 20, 2020, and indicated that the losses are likely to increase as many fires are still ongoing. Read More