Catastrophe Risks
FERMA Seeks Insurer Flexibility with Buyers Dealing with COVID-19
The Federation of European Risk Management Associations (FERMA) has called on brokers and insurers to demonstrate enhanced understanding of the insurance needs of European businesses to help them get through the COVID-19 pandemic and the subsequent recovery. FERMA supports creating national pools to cover future pandemic risks. Read More
Analysis Offers New Estimate of COVID-19 Business Interruption Losses
A new analysis of business interruption losses to small US businesses as a result of the COVID-19 pandemic estimates those losses at $431 billion per month. An earlier estimate of business interruption losses for businesses with 100 or fewer employees pegged the figure at $255 billion. Read More
Reinsurers Exposed to COVID-19 Losses but Appear Resilient to Pandemic
As both the human toll and the business impact of COVID-19 continue to mount, reinsurers look well positioned to ride out the pandemic. The industry entered the crisis well capitalized. It's also likely to benefit from policy exclusions that will limit some pandemic-related losses. Read More
International Insurance Supervisors Group Assessing COVID-19 Impact
The International Association of Insurance Supervisors is taking steps to assess the COVID-19 pandemic's impact on insurers and the organization. The organization noted that IAIS members are pursuing a range of regulatory and supervisory measures to provide operational relief to insurers as they deal with the pandemic. Read More
CAT Bond, ILS Issuance Sets First-Quarter Record
The catastrophe bond and insurance-linked securities (ILS) market saw record first-quarter issuance of more than $5 billion, according to data compiled by Artemis. The first-quarter issuance was up 82 percent from the same period in 2019 and was 19 percent higher than the previous first-quarter record set in 2018. Read More