Catastrophe Risks
COVID-19 Impact Could See Major Catastrophe Testing for Some Reinsurers
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
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
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
AIR Worldwide Sets Laura Insured Losses at $4 Billion to $8 Billion
Industry insured losses to onshore property as a result of Hurricane Laura will range from $4 billion to $8 billion, according to catastrophe risk modeling firm AIR Worldwide. Hurricane Laura made landfall near Cameron, Louisiana, close to the Texas border, on August 27, 2020, as a strong Category 4 storm. Read More
California Wildfires Could Lead to Further Reinsurance Rate Increases
This year's California wildfires could lead to further increases in reinsurance rates, according to a new commentary from A.M. Best. Given the extensive use of reinsurance by insurance companies with property exposures in California, the 2020 wildfires may spur additional reinsurance and retrocession market rate hikes along with capacity shifts. Read More