As the reinsurance industry increasingly moves offshore, U.S. insurance regulators are rethinking current rules that require only non-U.S. reinsurers to post collateral equal to the full amount of their liabilities to U.S. insurers. Foreign reinsurers have long fought against the …
AIR Worldwide Corp. (AIR) released the AIR typhoon model for China. The new probabilistic model will help insurers, reinsurers, and brokers better manage the very high typhoon risk intrinsic to one of the world’s fastest growing insurance markets, the company …
A tornado damaged a church, a daycare center and the city’s major shopping mall as violent thunderstorms made their way across the western Florida Panhandle last week. There were no reports of injuries. The Oct. 18 twister damaged roofs of …
“Time is not on our side,” when it comes to suffering damage from an earthquake along Northern Californa’s Hayward Fault, according to a new map by the U.S. Geological Survey. This week, USGS released a new map showing the shaking …
Aon Corp. announced that its investment banking group, Aon Capital Markets, has successfully completed the private placement of $260 million of principal at-risk variable rate notes for MIDORI Ltd. The placement provides Munich Re with fully collateralized catastrophe protection for …
Hundreds of new insurance initiatives, including green building credits, drought-protection in developing countries and incentives for investing in renewable energy and carbon emissions trading are being offered to tackle climate change and rising weather-related losses in the U.S. and globally, …
Risk management Solutions commemorated the 20th anniversary of the destructive 1987 windstorm that struck Southern England and Northern France with a warning (See IJ web site Oct. 15). Lloyd’s and the UK’s Met Office marked the event with separate bulletins, …
The Federal Emergency Management Agency is quietly drawing up plans for a handful of disasters: devastating earthquakes beneath San Francisco and St. Louis and catastrophic storms in South Florida and Hawaii, FEMA’s chief said recently. In a departure from its …
The Missouri National Guard spent the weekend engaged in Operation Cracked Earth, training exercises to test communication abilities in the event that there is a major earthquake in the New Madrid fault zone. The New Madrid fault is a network …
Congressional consideration of renewing the federal terrorism risk insurance program poses a number of political and actuarial issues, while reserving actuaries continue to face significant challenges when dealing with large catastrophic events such as natural catastrophes, attendees of the Casualty …
