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Hurricane Zeta’s wind and storm surge impacts on Mexico and the United States are expected to cost the insurance and reinsurance market close to $4.4 billion, according to an early estimate from Karen Clark & Company. The catastrophe risk modeller is first out of the blocks with a post-landfall estimate of the insurance and reinsurance…
Read MoreCostco is a great place for discounted items and bulk shopping, but it’s probably not ideal for finding out if you have the coronavirus. Costco has begun selling at-home COVID-19 diagnostic tests online, and there are two choices: a saliva kit for $129.99 and the same kit with video observation for travelers, costing $139.99. Perhaps…
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Some higher-risk insurance-linked securities (ILS) and collateralised reinsurance funds have been forced to reserve more than 4% of their fund assets in case of losses from business interruption claims caused by the COVID-19 pandemic, a report suggests. For the ILS fund market, the main exposure to losses from the pandemic is through business interruption claims…
Read MoreAfter months of talk, the election is finally here. On Tuesday, polling places across the country will open for Americans to vote in person for their favorite candidates for federal, state and local offices. To celebrate the day, several chains are offering free food to voters, poll workers and other guests. Here are five free…
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USAA has successfully secured the upsized target of $400 million of reinsurance limit from its latest catastrophe bond transaction, with the two lower-risk tranches of the Residential Reinsurance 2020 Limited (Series 2020-2) transaction pricing down significantly for the insurer. USAA returned to the catastrophe bond market around mid-October with its second cat bond transaction of…
Read MoreThis story originally appeared on NewRetirement. For many retirees today, the secret to a successful retirement is an oxymoron; a successful retirement actually means work. But this type of work may look different than the career you’ve held for 40 years. Instead, there are a host of second careers that today’s retirees are pursuing. “People…
Read MoreThis story originally appeared on Roofstock. U.S. Census Bureau data shows that in aggregate, property taxes are the biggest source of tax revenue for state and local governments. According to the latest data from the Census Bureau, the median annual property tax paid by homeowners was $2,578 in 2019, or 1.03% of home value, but…
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The first catastrophe of the 2020-21 season has been declared in Australia by its Insurance Council, after large hail of up to tennis ball size hit south-east Queensland damaging cars and homes. An influx of claims is expected once as residents and businesses inspect the damage and lodge impacts with their insurance providers. An initial…
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Hiscox Group, the specialist insurance or reinsurance underwriter and ILS capital manager, has reported that its reinsurance focused Hiscox Re & ILS unit has secured rate increases of 12% across its portfolio for the year so far, with retrocession up 20%, although its book shrank at the mid-year renewals. Gross premiums written by Hiscox Re…
Read MoreHere are the ten most popular news articles, week ending 1st November 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. Ten most read articles on Artemis.bm,…
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