Catastrophe Risks

Surplus Proving Invaluable to Captive Owners in Current Environment

October 2, 2020

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

September 30, 2020

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

September 25, 2020

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

AIR Estimates Hurricane Sally Insured Losses at Up to $3 Billion

September 24, 2020

Catastrophe risk modeling firm AIR Worldwide estimates that Hurricane Sally caused $1 billion to $3 billion in insured onshore property losses as a result of wind, storm surge, and inland flood. Wind was responsible for the majority of the losses, AIR said. Read More

Captives Will Step in If Insurers Label Pandemics "Uninsurable"

September 23, 2020

Commercial insurance companies should not be surprised to see buyers reduce their premium spending across lines if they continue to tap out of difficult-to-insure risks like pandemics, Zach Finn, clinical professor of risk management and insurance at Butler University, tells Richard Cutcher in episode 38 of the Global Captive Podcast. Read More