Insurance
Hurricane Delta forecast for Louisiana landfall, models point to single-digit billion loss
Hurricane Delta struck the Yucatan Peninsula region of Mexico yesterday, causing damage to properties including in the high-value Cancun resort region. The hurricane weakened slightly, but has since intensified again after emerging fully over the Gulf of Mexico. Hurricane Delta is now forecast to continue intensifying as it moves across the Gulf of Mexico, with…
Read MoreInsurance Industry’s Week of Giving kicks off Saturday across the U.S.
The Insurance Industry Charitable Foundation (IICF) invites insurance professionals to volunteer for their community nonprofit organizations during the annual Week of Giving (October 10-17, 2020). With many in-person projects cancelled this year due to the COVID-19 pandemic, the IICF lists many ways to safely make an impact in the communities where we live and work.…
Read MoreDelta to be 5th Hurricane to Make U.S. Landfall in 2020
Residents from eastern Texas to the Florida Panhandle should prepare for Hurricane Delta, which is forecast to make landfall in Louisiana on Friday, October 9. The National Hurricane Center (NHC) warns Delta’s impacts will include destructive winds, torrential rain, life-threatening storm surge, flash flooding, isolated tornadoes and widespread power outages. Delta may intensify to a…
Read MoreNephila to be Markel’s single point of entry for property CAT reinsurance
Nephila Capital is set to become the single point of entry for Markel to access property catastrophe reinsurance, as the company shutters its Markel Global Reinsurance property CAT unit and creates a centre of excellence for catastrophe risk under the ILS fund manager. Markel acquired the largest insurance-linked securities (ILS) and reinsurance linked investment fund…
Read MoreInvestors should push for more transparency from their ILS managers: Panel
End-investors in the insurance-linked securities (ILS) sector should be pushing for more transparency from their ILS managers now, aiming to level the playing-field with the transparency the reinsurance market offers to its cedents, panellists said today. Speaking during a virtual panel discussion as part of the ILS Bermuda Convergence 2020 event today, a number of…
Read MorePCS launches Cyber RLM, a data tool for large insured cyber risks
PCS, the provider of industry loss estimates and loss data globally, has launched its first non-loss reporting platform, Cyber RLM, which will provide users with unique insights into large insured cyber risks around the globe. Containing data on many of the largest insured cyber exposures and programs, PCS Cyber RLM is designed to help markets…
Read MoreNZ Super Fund shuns wildfire exposed ILS as mispriced due to climate
The New Zealand Superannuation Fund (NZ Super Fund) has rejected any investments into wildfire insurance and reinsurance within its insurance-linked securities (ILS) allocations, saying that because of climate change it feels the risk is mispriced. In addition, the NZ Super Fund has also said that it believes that pricing should be higher for other natural…
Read MoreHurricane Delta unlikely to cause cat bond losses, but may erode aggregates: Plenum
Hurricane Delta’s impacts on the Yucatan Peninsula of Mexico and also the United States Gulf Coast are unlikely to cause direct losses for any catastrophe bonds, but could further erode some aggregate cat bond deductibles, according to specialist ILS investor Plenum Investments. Catastrophe bond and insurance-linked securities (ILS) focused investment manager Plenum said that it…
Read MoreNephila backs weather-linked wind power risk transfer for data center provider
Nephila Climate, the weather and climate risk focused arm of the largest independent insurance-linked securities (ILS) manager Nephila Capital, has provided capacity to back a weather-linked wind farm risk transfer deal, to support the needs of a data center provider. Working with its regular partners the Capital Solutions unit of Allianz Global Corporate & Specialty…
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