Cities along the U.S. East and Gulf Coast are vulnerable to billions in insured losses as a result of storm surge and insurers need to address the issue quickly,
Offshore oil fields and onshore refineries in the Gulf of Mexico are the reinsurance industry’s own Bermuda Triangle even after an attempt to change underwriting standards, according to a
Modeling firm AIR Worldwide says that it is issuing an update for two of its catastrophe risk management systems that will give insurance linked securities (ILS) managers and risk managers
A successor catastrophe bond being issued by State Farm Fire & Casualty will retain an indemnity trigger but is being marketed at less than a quarter the size of its
Investors in the Newton Re catastrophe bond have settled with bankrupt Lehman Brothers over the swap counterparty agreement that acted as collateral on the $150 million note. According to a
Reinsurers may need to tap the capital markets if the catastrophe losses continue to pile up, according to a report issued by Standard & Poor’s. “[I]t is possible
Carriers and reinsurers need to refocus underwriting on so-called “secondary perils” or face a long term deterioration of their bottom line, according to a Swiss Re report released last
The valuation of a $300 million investment made by Lehman Brothers in life reinsurer Wilton Re is being questioned by a court appointed bankruptcy examiner, according to the report issued
Bermuda-based Partner Re estimates that its losses from last month’s earthquake in Chile and European Windstorm Xynthia could top $390 million combined, according to a company statement. Partner
Catastrophe modeling firms will continue to issue quick loss estimates following major catastrophes even though they often significantly underestimate the ultimate costs of a disaster. While the estimates are often
The credit outlook for the California Earthquake Authority (CEA) was lowered from “stable” to “negative” by Moody’s Investors Services last week after it questioned the state-run earthquake insurer’
India’s Ministry of Finance is pushing the government to explore the use of catastrophe bonds as a way to hedge against the country’s exposure to natural catastrophes in
