Insurance Archives - Page 137 of 239

Double U.S. hurricane landfall threat forecast, Laura & Marco set to be named

The United States, in particular the Gulf Coast, is under a double hurricane threat currently, with storms Laura and Marco expected to be named in the coming hours and the forecast showing a potential double-hit to the Gulf Coast region around Texas to Louisiana. The tropics look set to unleash two U.S. hurricane landfall threats…

California wildfires double in size, threat & damage to property considerable

Wildfires in California have roughly doubled in size in the last 24 hours, with significant spread and new property damage, while fire officials warn that further expansion of the area burned is to be expected over another dangerous day or more ahead. As we reported yesterday, tens of thousands of structures and properties are deemed…

Insurance Careers Corner: A Few Minutes with Anisha Navendra, Insurance Industry Charitable Foundation (IICF) intern

By James Ballot, Senior Advisor, Strategic Communications, Triple-I It’s an understatement to say that the COVID-19 pandemic has affected all areas of our personal and professional lives. Amid widespread disruption, however, people are stepping up with innovative ways to overcome the distance of “social distancing.” For insurance businesses, summer internships have long provided a vital…

Lawyers’ Group Approves Best Practices to Guide Litigation Funding

The policymaking arm of the American Bar Association (ABA) recently approved a set of best practices for litigation funding arrangements. Litigation funding is an increasingly popular technique in which investors finance lawsuits in which they are not a party against companies – often insurers – in return for a share in the settlement. It contributes to “social inflation” – rising…

Swiss Re: A Katrina-like hurricane could cause up to $200 billion in damage today

A memorial cross for the victims of Hurricane Katrina stands in the water near the bank of the Mississippi River Gulf Outlet on August 22, 2019 in Shell Beach, Louisiana. According to researchers at the National Oceanic and Atmospheric Administration (NOAA), Louisiana’s combination of rising waters and sinking land give it one of the highest…

Push & pull to drive life ILS growth, says L&G Re CEO, Olunloyo

The huge volume of outstanding pension liabilities coupled with an increasing weight of available alternative capital searching for smart business, suggests significant growth in the life insurance-linked securities (ILS) space in the coming years, according to Thomas Olunloyo, Chief Executive Officer (CEO) of L&G Re. Although predominantly focused on non-life, shorter tail and shorter duration…

Covid-related cat bond & ILS spread widening drove inflows: Swiss Re

As the global effects of the Covid-19 coronavirus pandemic were being felt across financial markets earlier this year, the insurance-linked securities (ILS) market was not immune and Swiss Re notes that the dislocation caused ILS new issuance spreads to widen by 20% to 30%. The uncertainty that “riddled” the global financial markets spilled over into…

CelsiusPro doubles-down on big-data for parametrics & weather risk transfer

CelsiusPro AG, the Swiss headquartered weather index insurance and parametric risk transfer specialist, is doubling down on the use of big-data and advanced technology to create better parametric triggers and indices for weather and natural catastrophe risk transfer. CelsiusPro is already a technology-focused company, calling itself an insurtech as it has placed an increasing emphasis…

Aetna’s medical benefit ratio drops further below Vitality Re ILS trigger in Q2

For the second-quarter of 2020, the medical benefit claims ratio reported by CVS-owned health insurer Aetna dropped even further below levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered. This is despite the impacts of the Covid-19 coronavirus pandemic, which might have been thought a caused of elevated health…