Hudson Structured joins Standards Board for Alternative Investments as signatory

Hudson Structured Capital Management Ltd., which undertakes insurance and reinsurance investment business as HSCM Bermuda Management Company, has become the eighth specialist ILS fund manager to join the Standards Board for Alternative Investments (SBAI) as a signatory. Hudson Structured Capital Management is a specialist alternative investment manager focused on insurance-linked securities (ILS), reinsurance and transportation-related…

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Tropical storm Bertha forms as second pre-season storm of 2020

Tropical storm Bertha has formed off the coast of South Carolina to become the second named storm of the 2020 Atlantic hurricane season and relatively unusually the second to form before the official start of the season on June 1st. Tropical storm Bertha does not pose a major threat to the Carolina’s, although rainfall totals…

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ILW price sheets slip further from reality, don’t reflect Florida firming

We can’t speak for every reinsurance broking team that puts out a regular sheet of pricing indications for industry-loss warranty (ILW) protection, but all of the ones we’ve seen in the last couple of weeks (which include some of the biggest players) haven’t updated their price indications for Florida wind ILW’s since 2019. As a…

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U.S. commercial property insurance rates rising fastest since 9/11: CIAB

U.S. commercial property insurance rates are now rising at their fastest pace since 9/11, according to the Council of Insurance Agents & Brokers (CIAB). The statement supports recent data from broker Marsh who explained that commercial property insurance rates were up 21% on average during the first-quarter of 2020, which provides further impetus to reinsurance…

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PRIA bill introduced with Pandemic Risk Reinsurance Program

H.R. 7011, or the Pandemic Risk Insurance Act of 2020, has been introduced by politicians and industry leaders including insurance and reinsurance market representatives and proposes the creation of a Pandemic Risk Reinsurance Program to compensate for business interruption caused by future pandemics. The bill has been in the works for a number of weeks…

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