In a recently published report Standard & Poor’s Ratings Services said it “considers that the insurance sector in Europe has enjoyed a very good year in 2006, aided by the absence of the large losses that characterized 2005. Insurers’ strong …
In an early assessment Tropical Storm Risk (TSR) forecast “a return to high hurricane activity in 2007.” The London-based consortium of experts on insurance, risk management and seasonal climate forecasting led by the Benfield UCL Hazard Research Centre at University …
Lloyd’s has released a new report, Managing the Insurance Cycle, which warns that “considerable uncertainty remains over prices and conditions in the commercial insurance market following last year’s record hurricane season.” Among other suggestions, it warns underwriters to beware of …
Despite the light 2006 hurricane season U.S. commercial real estate values in coastal areas still may suffer as insurance companies continue to minimize their exposure windstorm insurance coverage, according to a special report by Fitch Ratings. Fitch noted that as …
After completing 12,000 free home inspections by the end of the 2006 hurricane season – a goal that was exceeded by nearly 1,000 inspections – the pilot phase of the My Safe Florida Home program ended last week. The program, …
Florida homeowners will pay a 2.5 percent surcharge on their insurance premium when they renew policies in a plan approved last week by state regulators, a move to help bail out the state-backed insurance company for people who can’t get …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a” of Aspen Insurance UK Limited (AIUK). Best also affirmed the ICR of “bbb” of AIUK’s ultimate parent, Bermuda-based Aspen Insurance …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Bermuda’s Aspen Insurance Limited (AIL) with a stable outlook. Best said it “believes AIL’s risk-adjusted capitalization is likely to remain …
Hurricane loss modeler Risk Management Solutions (RMS) has reaffirmed its medium-term five-year view of landfalling hurricane risk for the period of 2007-2011. The company is projecting higher modeled annualized insurance losses by 40 percent on average across the Gulf Coast, …
Investors who bet against the odds of another devastating Atlantic hurricane season now stand to cash in big-time on “catastrophe bonds.” Contrary to expert predictions, the season turned out to be the mildest in years. Insurance companies sell the bonds, …
