Existing risk models are not accurately capturing the growing risk from severe convective storms in the U.S. — including tornado, hail and thunderstorm — causing insurers and reinsurer to be blindsided
Billions spent on collecting and disseminating geospatial data — which sits at the core of modern catastrophe modelling, underwriting and management– is becoming the target of federal and congressional leaders and
Legislation introduced last week in the North Carolina legislature would seek to alter the state’s residual pool to shift the focus away from reinsurance purchases to post-event bonding.
A proposal that would have allowed Florida property insurers to use multiple models when calculating a potential loss tied to a hurricane has been stripped out of legislation, but language
At the recent Reinsurance Association of America Cat Risk Management conference in Orlando,JB Crozet, head of underwriting at Amlin and Dr. Anders Sandberg, Ph.D, the James Martin Research
Hurricane modelers and forecasters face an 11 month “satellite gap” that could compromise their work if plans to replace an aging orbiters continue to lag behind, according to a U.
Reinsurance and catastrophe bond professionals are seeking new risks to cover, pushing the catastrophe modeling firms to keep pace with the appetite of issuers and investors In a report issued
Four windstorms that hit Europe last month — along with severe weather in the U.S.– will likely cause economic losses in the hundreds of millions of dollars, according to Aon
A newly created unit within Berkshire Hathaway Specialty Insurance (BHSI) will be on hiring binge in the coming months as the unit ramps up a group that will overlay the
In announcing what it describes as the “insurance industry’s first cyber risk modeling tool,” Willis Re’s new product may be the first shot in a battle among reinsurers
RMS named Cory Isaacson CTO on last week with a mandate to “lead the development of RMS(one),” according to company statement. Isaacson comes from CodeFutures Corp., a data analytics
Catastrophe modelling firm Risk Management Solutions (RMS) announced the appointment of a new chief technology officer (CTO) — as well as a slew of other people moves — as the firm continues
