Insurance
Mortgage ILS Covid-19 dislocation to elevate reinsurance costs: A.M. Best
The current dislocation of the mortgage insurance-linked securities (ILS) market due to the Covid-19 pandemic is likely to cause mortgage reinsurance rates to rise, impacting the originate to distribute model of many mortgage insurers. Over the last few years, issuance of mortgage insurance-linked securities (ILS), or mortgage insurance linked notes (ILN), has become a significant…
Read MoreAssociation’s propose federal program for “uninsurable” pandemic risk
U.S. insurance and reinsurance industry associations have launched a proposal for a industry-backed pandemic risk backstop, called the Business Continuity Protection Program (BCPP) as an alternative to the legislative proposal for a Pandemic Risk Insurance Act (PRIA) reinsurance backstop. The National Association of Mutual Insurance Companies (NAMIC), the American Property Casualty Insurance Association (APCIA), and…
Read MoreHurricane season forecast for “above-normal” activity: NOAA
The 2020 Atlantic tropical storm and hurricane season is forecast to have a 60% chance of “above-normal” levels of activity by NOAA, with the agency calling for between 6 and 10 hurricanes to form over the coming months. The forecast from NOAA joins almost every other in calling for a season of above average levels…
Read MoreTriple-I CEO Tells U.S. House—Global Pandemics Are Uninsurable
On May 21, Triple-I CEO Sean Kevelighan testified before the U.S. House of Representatives’ Small Business Committee on the subject of business interruption coverage. Since the outbreak of COVID-19, some legislators and advocates have pushed for policies that would retroactively force insurers to pay for claims their insurance policies were not priced to cover. The…
Read MoreCan Life Insurers Cover All COVID-19 Death Claims?
Will life insurers be able to pay all the death claims attributable to COVID-19 that come on top of claims for deaths not directly related to the pandemic? Triple-I chief economist Dr. Steven Weisbart says they can. How many additional death claims will COVID-19 cause? As of this writing, officially about 90,000 Americans have died…
Read MoreNOAA predicts above normal 2020 Atlantic Hurricane Season
The National Oceanic and Atmospheric Administration (NOAA) predicts an above-normal hurricane season in terms of the total number of storms. NOAA’s 2020 Atlantic Hurricane Season Outlook calls for 13-19 named storms, 6-10 hurricanes, and 3-6 major hurricanes. An early forecast by the University of Colorado predicted 16 named storms, 8 hurricanes, and 4 major hurricanes…
Read MoreArtemis Live: Interview with Sean Bourgeois, Tremor Technologies
We have another new addition to our Artemis Live series of video interviews with leaders of the insurance-linked securities (ILS) and reinsurance markets this week, featuring Sean Bourgeois, Founder & CEO of technology-based programmatic insurance and reinsurance risk transfer marketplace provider Tremor Technologies Inc. All of our Artemis Live video interviews can be accessed directly…
Read MoreHSCM Bermuda participates in $123m States Title funding
HSCM Bermuda, the reinsurance investment management business arm of Hudson Structured Capital Management Ltd., has participated in a $123 million Series C round of funding for real estate focused States Title. States Title leverages machine learning intelligence and patented technology solutions to offer a range of residential real estate title, escrow and settlement services. The…
Read MoreReinsurers withhold renewal capacity, as Berkshire & D.E. Shaw quote more
Some reinsurance firms and also a number of insurance-linked securities (ILS) funds have been holding back capacity in the hopes of finding a less competitive and even more profitable market opportunity after the main mid-year renewals are over, as cedents are expected to need additional top-up and hedging capacity. But adding to the mid-year renewal…
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