Catastrophe Risks
FERMA Seeks EU Financial Resilience Framework for Catastrophic Risks
The Federation of European Risk Management Associations (FERMA) has called on the European Commission to create a European Union business interruption resilience framework for catastrophic risks. FERMA called on the commission to address the "severe shortage" of business interruption insurance for disruptions that don't involve physical damage. Read More
NOAA Forecast Calls for Active North Atlantic Hurricane Season
The National Oceanic and Atmospheric Administration (NOAA) is predicting an above-normal Atlantic hurricane season this year with a range of 13 to 19 named storms of which 6 to 10 could become hurricanes, including 3 to 6 major hurricanes. The Atlantic hurricane season runs from June 1 through November 30. Read More
Life/Health CAT Bonds Likely Most Affected by COVID-19: A.M. Best
Life/health-related catastrophe (cat) bonds face the greatest risk of losses from the COVID-19 pandemic, compared with other insurance-linked securities (ILS), according to A.M. Best. Best suggests that the COVID-19 pandemic's overall impact on the ILS market-including most catastrophe bonds-should be limited. Read More
2020 Catastrophe Bond Volume Remains Strong Despite Pandemic
The COVID-19 pandemic appears to be doing little to slow issuance of catastrophe bonds and other insurance-linked securities, with issuers bringing $6.1 billion to market thus far in 2020, according to data from the Artemis Deal Directory. There has been $1.06 billion in issuance so far during the second quarter. Read More
For Businesses Coping with COVID-19, Varying Responses Add Complexity
As businesses cope with the COVID-19 pandemic and move toward reopening, the management of the process-and the risks involved-can vary significantly from country to country. A panel of risk managers noted that different pandemic responses employed by various countries add complexity to the process. Read More