Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of Paradise three years ago, burning their home …
Investors in insurance-linked securities are leaning toward structured catastrophe bonds rather than broader ILS instruments to steer away from unexpected losses from secondary perils. At the same time, catastrophe bond investors are accepting lower yields than they did two years …
If you’re having trouble wrapping your mind around the spree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California and Siberia —you may be interested to know …
The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile, general and professional liability, and medical professional liability. For …
Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caused by secondary …
Global insured property losses from disasters were US$31 billion in the first half of 2020, up from US$23 billion during the same period last year, according to Swiss Re Institute’s sigma estimates. Natural catastrophes accounted for US$28 billion of H1’s …
Global insured losses in 2019 dropped to an estimated US$56 billion, from US$93 billion in 2018 and below the annual average (US$75 billion) of the previous 10 years, according to preliminary sigma estimates from Swiss Re Institute. During the year, …
By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is set to …
The insurance industry must wake up to the growing cost of “secondary” catastrophe perils, which amounted to more than 60 percent of the $76 billion price tag for insured natural catastrophe losses during 2018, according to Swiss Re Institute’s latest …
