Financial

The long-awaited, significant hardening of the reinsurance market, underpinned by price increases and improving terms and conditions (T&Cs), is vital following the disappointing response to catastrophe events over the past few years, according to experts from across the re/insurance and insurance-linked securities (ILS) space. Artemis, in collaboration with sister publication Reinsurance News and in association…

Despite the fact insurance and reinsurance markets become increasingly sophisticated in their use of technology to reach customers and provide enhanced coverage, in North America, perhaps the most advanced economy in insured terms, the natural catastrophe protection gap actually widened by over 7% in 2019. It should perhaps be considered an indictment of the efforts…

Climate change, variability and the expected increases in Atlantic hurricane risk that these factors will drive, is still likely to be compensated for in catastrophe bond and private insurance-linked securities (ILS) coupons, as pricing should rise and consequently returns, in line with the risk, according to ILS manager Twelve Capital. Twelve Capital, the Zurich headquartered…

Catastrophe risk modeller RMS has estimated that total U.S. insurance and reinsurance industry losses from Hurricane Sally will be between $2 billion and $3.5 billion. This estimate, which includes wind, storm surge, and inland flood losses across parts of the Gulf and Florida regions, also includes losses to the National Flood Insurance Program (NFIP) of…

The cyclical nature of the Florida property insurance market is just one of the challenges facing those operating there, with issues around claims litigation, assignment of benefits (AOB) and its exposure to hurricanes and severe weather all making for a marketplace that is difficult to navigate. But the challenges faced in recent years, in particular…