Insurance
Winter storm losses to factor into alternative capital investor discussions: S&P
Insurance and reinsurance market losses from winter storm Uri and related severe winter weather in the United States may become another factor in the availability of alternative capital, given the loss will highlight the risk of catastrophes being unmodelled and perhaps heighten climate change concerns, S&P has warned. While there’s currently no certainty over just…
Read MoreBusinesses are urged to take steps immediately to mitigate massive data breach tied to Chinese hackers
CISA urges ALL organizations across ALL sectors to follow guidance to address the widespread domestic and international exploitation of Microsoft Exchange Server product vulnerabilities; see CISA’s newly released web page for details. https://t.co/VwYqAKKUt6. #Cyber #InfoSec — US-CERT (@USCERT_gov) March 9, 2021 The alarm about the ongoing hack of Microsoft Exchange Server, which began as early…
Read MoreNevada Class Actions Against Auto Insurers Risk Hurting Policyholders
Class action lawsuits filed in Nevada last month against 10 auto insurers are more likely to hurt policyholders than help them. The suits contend that discounts, rebates, and policyholder dividends provided in 2020 – amounting to about $14 billion nationally – were not “meaningful” and that the rates charged violate state law against excessive premiums.…
Read MoreNew ILS products critical to a more sustainable economy: Nephila’s Schauble
The use of advanced technologies alongside thoughtful risk capacity to create new products that support a more sustainable world and improved risk taking is vital, according to Barney Schauble, Head of Labs at Nephila Advisors. The universe of responsible and sustainable investors is on the rise with participants in many global industries increasingly looking for…
Read MoreUS commercial property insurance prices still accelerating, says WTW
Insurance and reinsurance broker Willis Towers Watson (WTW) has reported that US commercial property insurance prices continued to accelerate higher in the last quarter of 2020, a difference of opinion with rival Marsh. Marsh has already reported on US commercial insurance pricing in Q4 2020 and noted that while price increases across US commercial property…
Read MoreAccess to capital key in “dysfunctional” Florida insurance market
Florida’s insurance marketplace needs targeted legislative reform to address the numerous issues being faced by carriers in the state according to Demotech, while access to additional capital remains key for the “dysfunctional” marketplace. Rating agency Demotech, Inc. has laid out some of the issues facing Florida’s property insurers, citing an urgent need to address litigation…
Read MoreHelios raises £53.5m for hard market opportunities, majority from ILS investors
Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle, secured £53.5 million of new capital through a share issuance, the majority of which has come from insurance-linked securities (ILS) market sources. As we explained yesterday, Helios was targeting a £60 million capital raise, with £40.8 million of the total set to be committed…
Read MoreNCIUA’s new Cape Lookout Re cat bond to more than double to $250m
The North Carolina Insurance Underwriting Association (NCIUA) looks set for strong execution within the catastrophe bond market with its first issuance of 2021, as the target for its new Cape Lookout Re Ltd. (Series 2021-1) transaction has been more than doubled to $250 million in size. This is the latest catastrophe bond to show strong…
Read MoreResponsible Investment policies (ESG) can provide allocation edge: SBAI
Insurance-linked securities (ILS) asset managers could give themselves an edge in the allocation process, if they have a “well-defined and thoughtful” Responsible Investment policy, according to the Standards Board for Alternative Investments (SBAI). The Standards Board for Alternative Investments (SBAI) has developed a Responsible Investment framework for alternative investment managers, seeking to assist them in navigating…
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