Insurance
Isaias Meets COVID-19: South Floridians Advised to Consider Evacuation
South Floridians should “start to examine what other opportunities or options they may have to be out of South Florida,” Broward County Sheriff Gregory Tony said in a virtual press conference as a broad area of low pressure looked increasingly likely to turn into Tropical Storm Isaias. Tropical storm-force gusts could arrive in Florida as…
Read MorePotential Tropical Cyclone 9 impacts likely in Puerto Rico, Florida
The current record for earliest 10th Atlantic named storm formation is August 22 (when Jose formed in 2005). #Isaias just set the record for the earliest 9th Atlantic named storm formation. #hurricane pic.twitter.com/1n1Xfb3Wbf — Philip Klotzbach (@philklotzbach) July 30, 2020 A broad area of low pressure called Potential Tropical Cyclone 9 will likely become Tropical…
Read MorePotential Tropical Cyclone 9 impacts likely in Puerto Rico, Florida
The current record for earliest 10th Atlantic named storm formation is August 22 (when Jose formed in 2005). #Isaias just set the record for the earliest 9th Atlantic named storm formation. #hurricane pic.twitter.com/1n1Xfb3Wbf — Philip Klotzbach (@philklotzbach) July 30, 2020 A broad area of low pressure called Potential Tropical Cyclone 9 will likely become Tropical…
Read MoreChubb CEO says business interruption policies are a good value and work as they should
Evan Greenberg In a July 29 earnings call Evan Greenberg, the CEO of Chubb, addressed the lawsuits filed by many businesses over business income (interruption) coverage during the COVID-19 pandemic. He stressed that even though business interruption (BI) policies do not cover a pandemic, they are a good value and work as intended. “Standard BI…
Read MoreMarkel expects settlement with ex-CATCo CEO Belisle in Q3
Markel Corporation is expecting to settle the binding arbitration case between it and the former Markel CATCo CEO Tony Belisle during the third-quarter of the year, putting another piece of the legal saga behind it. This long-running legal saga began when Anthony Belisle, the founder and former CEO of retrocessional reinsurance investment manager CATCo Investment…
Read MoreRSA puts reinsurers on-watch over Covid-19 claims aggregation
RSA Group, the UK based insurance group, has warned reinsurers signed up to its Group Volatility Cover (GVC) and catastrophe reinsurance that it hopes to be able to pass on Covid-19 pandemic related losses, above certain levels, to each of those programs. RSA has previously warned its reinsurance panel that its aggregate and core catastrophe…
Read MoreRenaissanceRe grows Upsilon ILS strategy to $2.1bn
RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has had continued success in raising new funds for its collateralised reinsurance and retrocession focused Upsilon ILS strategy in the first-half of the year. As we explained yesterday, when RenaissanceRe announced its second-quarter 2020 results the company revealed some further capital raising amounting to…
Read MoreIsaias seen as first Florida & US east coast potential hurricane threat
Tropical storm Isaias has formed in the southern Caribbean overnight and is seen as the first storm of the 2020 Atlantic tropical storm and hurricane season with the potential to pose a hurricane threat to Florida and U.S. East Coast. Tropical storm Isaias is set for a journey through the Caribbean islands, via the Domincan…
Read MoreMarkel hopes to add new ILS inflows during second-half: Co-CEO Whitt
Markel Corporation hopes to see fresh inflows coming into its insurance-linked securities (ILS) business in the second-half of 2020, as the capital markets become less volatile and investor confidence recovers, according to Co-CEO Richie Whitt. As we explained yesterday, insurance-linked securities (ILS) assets under management have declined at Markel’s flagship ILS unit Nephila Capital, falling…
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