Catastrophe Risks
RMS Caps Insured Losses from Puebla Earthquake at $1.2 Billion
Catastrophe risk modeling organization Risk Management Solutions (RMS) has provided its initial loss estimates following the Puebla earthquake in Central Mexico on September 19, 2017. RMS said that economic shake losses will be between $4 billion and $8 billion, but it expects that insured losses will not exceed $1.2 billion. Read More
Captive Insurance Use Around Catastrophe Losses
The recent spate of natural disasters has focused a spotlight on catastrophic losses. "Captive insurance," says JLT Insurance Management's (JLIT's) Anne Marie Towle, "can play an important role in helping organizations defray some of the related financial losses." Read More
Bermuda Captive Insurers Will Cover Their Fair Share of Hurricane Losses
Last week's Bermuda Captive Conference highlighted the Bermuda insurance market's role in global risk innovation as well as the Bermuda insurance industry's value, through billions of dollars of claims payments, in helping communities and businesses recover and rebuild after catastrophic events like Hurricane Irma. Read More
Actuaries Adapt to Climate Change Using New Tools
Actuaries are rising to the challenges posed by climate change. The Actuaries Climate Index (ACI) and the forthcoming Actuaries Climate Risk Index (ACRI) were created to help actuaries address the challenges climate change has created and respond to upward trends in weather-related losses. Read More
Significant Uninsured Harvey Losses Mean US Insurer Downgrades Unlikely
Hurricane Harvey is unlikely to trigger ratings downgrades of individual property and casualty insurers or reinsurers, Fitch Ratings said. Fitch believes a large proportion of economic losses will be uninsured or covered by the government's National Flood Insurance Program, as losses are likely to be more heavily flood-related than wind-related. Read More