Catastrophe Risks
Atlantic Hurricane Outlook: 2018 Forecast Significantly Lower
According to The Weather Company's second seasonal tropical forecast for the North Atlantic basin for the 2018 season, a total of 12 named storms, 5 hurricanes, and 2 major hurricanes are expected. These forecasted numbers are lower than those issued a month ago and significantly lower than last year's numbers. Read More
Ocean Risk Management: Aligning Public Policy with Business Interests
XL Catlin and the Stimson Center are creating a predictive model to help identify the developing coastal nations that are most at risk from climate change. The joint effort seeks to better understand how governments and businesses should respond to ocean risks by mapping existing and projected oceanic changes. Read More
Severe April Storms in US Result in $1.5 Billion in Catastrophe Claims
AON Benfield's monthly "Global Catastrophe Recap" report reveals that five separate storm systems caused severe thunderstorms across the United States during April 2018. Total combined economic losses from convective storm-related damage in the United States during the month were estimated at $2.3 billion. Read More
Fitch: European Reinsurers Confirm Resilience to Catastrophes
As evidenced by European reinsurers' 2017 results, the sector remains resilient to catastrophe losses, said Fitch Ratings. While it took some rate increases for January and April renewals, Fitch reports that with capital typically above companies' target levels, material premium rate rises are not expected in 2018. Read More
Latest Tally Discloses Global Insured Disaster Losses of $144 Billion
According to the latest Swiss Re Institute sigma study, total global economic losses from natural disasters and man-made catastrophes in 2017 were $337 billion. Of the total losses, global insured disaster losses were $144 billion, leaving a worldwide catastrophe protection gap of $193 billion. Read More