Catastrophe Risks

Cassie Bachman Joins Arsenal as Director of Legal Affairs

September 10, 2020

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

September 3, 2020

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

September 2, 2020

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

September 1, 2020

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

Insurers' Capital Positions Should Withstand Hurricane Laura Losses

September 1, 2020

While the economic and insured losses from Hurricane Laura will be significant, the catastrophe is unlikely to prompt downgrades of individual property-casualty insurers or reinsurers, according to Fitch Ratings. Fitch said that Hurricane Laura will likely be an earnings event and not a capital event for the property-casualty industry. Read More