A report from Willis Re notes that “UK insurers may see increases of up to 97 percent in their capital requirement for catastrophe exposures under Solvency II rules when making calculations under the new Risk Management Solutions’ model version 11, …
A severe line of thunderstorms and isolated super cells moved into the Dallas-Fort Worth-Arlington metropolitan area in the early afternoon on April 3 producing numerous tornadoes and large hail that was responsible for extensive damage throughout the region. Preliminary storm …
Damaging hailstorms in Australia. Unprecedented tornadoes in the southeastern United States. Constant windstorms in northern Europe. Sound familiar? This year is starting a lot like last year in terms of unexpectedly severe weather, to the consternation of the insurance industry, …
Hurricane Irene caused between $2.5 billion and $5.5 billion in insured losses in the United States and the Caribbean, excluding flood claims that fall under federal insurance programs, catastrophe modeling company RMS said Monday. RMS’s estimate falls roughly between those …
Loss estimates from Hurricane Irene continued to fall and ratings agencies said insurers would have no problem with claims, helping boost insurance industry shares Wednesday. The relatively limited losses that Irene appears to have caused to the private insurance industry …
When it comes to revised hurricane models, AIR Worldwide CEO Ming Lee has one basic question, “What really is all this big fuss about?” Lee, whose Boston company launched the catastrophe modeling industry in 1987, is referring to the fuss …
Standard & Poor’s Ratings Services today has removed its ratings on 10 natural peril catastrophe bonds from CreditWatch with negative implications. S&P also said it has lowered its “ratings on six of the bonds and affirmed our ratings on four” …
The catastrophe bond market seems to have survived the Japanese earthquake, its biggest test since the Lehman Brothers bankruptcy, with investors still likely to consider the sector despite millions of dollars of losses. The cat bond sector – in which …
Property/casualty insurers appear to be in no rush to adopt a controversial revised catastrophe model that dramatically raises certain estimates of potential hurricane losses in the country. California-based modeling firm RMS released its revised hurricane model, version 11, in February. …
Standard & Poor’s has issued a corrective statement concerning one of the cat bond ratings listed in the bulletin it issued on April 18. The Series 2011-1 Class A notes, rated BB+ (sf)/Watch Neg BB+ (sf) issued by Foundation Re …
