Insurance Journal » analysis

AIR Worldwide’s Analysis of Typhoon Bopha’s Impact on the Philippines

Wed, 05 Dec 2012 11:09:50 +0000

AIR Worldwide’s analysis of Typhoon Botha’s [also named ‘Pablo,’ locally] impact on the Philippines indicates that as “insurance penetration in this area is around 10 percent to 20 percent; insured losses are not expected to be high as a result …

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Finaccord Analyzes Prof. Indemnity Insurance in Australia, Canada, So. Africa

Wed, 03 Oct 2012 13:09:07 +0000

New research, conducted by market research consultants Finaccord, reveals that “competition among underwriters of professional indemnity insurance in Australia and Canada is at least as strong as in Europe’s more developed markets while South Africa is likely to provide growth …

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Best’s Global Reinsurance Market Review Analyzes Top 50, Capital, Ratings

Wed, 05 Sep 2012 12:48:36 +0000

A.M. Best has published a review of the international reinsurance market, which analyzes the performance of the largest reinsurers (rated by gross premiums written). Although the figures – based on 2011 – do not reflect more recent developments in the reinsurance …

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Hiscox Bermuda Appoints Palmer to Head Analytics and Research

Tue, 14 Aug 2012 09:46:28 +0000

Hiscox Bermuda has appointed Dr. Michael Palmer as Head of Analytics and Research for the group’s Bermuda operation. He will report to Damien Smith, Hiscox Bermuda’s Underwriting Director, and “will take responsibility for the analytics team in Bermuda, helping to …

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Typhoons Saola, Damrey Strike, Philippines, Taiwan, China: AIR Analysis

Fri, 03 Aug 2012 10:05:38 +0000

According to catastrophe modeling firm AIR Worldwide, Typhoon Saola, the ninth typhoon of the Northwest Pacific storm season, made its first landfall early Thursday morning local time in Hualien, Taiwan. AIR noted that the storm has since “been downgraded to …

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A Decade Later: Is Sarbanes-Oxley Working? – Analysis

Mon, 30 Jul 2012 10:53:54 +0000

When Peregrine Financial collapsed earlier this month, a nagging question resurfaced. As in the implosion of Lehman Brothers, the fall of Bernard Madoff and other cases in recent years, many asked: Where were the accountants? That this question still arises …

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Rain, Floods Cause Heavy Damage in Southwest Japan: AIR Analysis

Tue, 17 Jul 2012 11:05:06 +0000

A report from catastrophe modeling firm AIR Worldwide, analyzes the damages resulting from the heavy rains that have caused widespread flooding and mudslides from July 11 to July 16 on the Southern Japanese Island of Kyushu. AIR explained that a “very …

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Magnitude 6.0 Earthquake Strikes Italy’s Emilia Romagna Region: AIR Analysis

Mon, 21 May 2012 10:26:04 +0000

AIR Worldwide has released its preliminary analysis of the earthquake which struck the Emilia-Romagna region of northern Italy in the early hours on Sunday, May 20. The US Geological Survey issued a “moment magnitude estimate of 6.0 for the event. …

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Best’s Special Vietnam Report Sees Continued Strong Growth

Thu, 19 Apr 2012 10:15:01 +0000

Vietnam’s insurance market has experienced strong double-digit premium growth in recent years and demand for insurance product is forecasted to continue, according to a recently released special report from A.M. Best Co. “Insurers have benefitted from an emerging middle …

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Nearly 3K Medical Professional Liability Claims Closed in Ohio in 2010

Thu, 12 Apr 2012 16:01:10 +0000

Close to 3,000 medical professional liability claims were closed in Ohio in 2010, regulators report. The Ohio Department of Insurance’s annual Ohio Medical Professional Liability Closed Claim Report for 2010 showed a total of 2,988 medical professional liability claims were …

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Tsunami Watch Cancelled; AIR Worldwide Analyzes Quake Risk

Thu, 12 Apr 2012 10:17:03 +0000

Yesterday the world held its breath, as two strong earthquakes within hours of each other shook the Indian Ocean sea bed, not far from the epicenter of the quake in 2004, which generated a tsunami that took over a quarter …

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TT Club Finds Majority of Supply Chain Claims Caused by Human Error

Tue, 03 Apr 2012 08:43:47 +0000

An analysis from London-based TT Club, which provides insurance and related risk management services for the international transport and logistics industry, has revealed human error to be the main cause of supply chain claims. TT Club said its research is …

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IBM’s Algorithmics, Insurers Analyze Solvency II Compliance Preparation

Charles E. Boyle — Fri, 30 Mar 2012 10:14:35 +0000

Despite delays and complaints the European Union’s Solvency II regulations, which cover the insurance industry, are slowly but surely moving forward. While most of the industry is primarily concerned with the regulations governing capital requirements – Solvency II’s “Pillar I,” the …

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AIR Analyzes Chile Quake: No Tsunami; Minimal Damages Reported

Tue, 27 Mar 2012 10:38:31 +0000

Catastrophe modeling firm AIR Worldwide’s report on the earthquake that struck central Chile on Sunday night concludes that, although the quake was a strong tremor – magnitude 7.1 – minimal damages are expected, and no significant loss of life has …

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AIR Assessing Damage Picture from Mexico’s Earthquake

Wed, 21 Mar 2012 10:48:52 +0000

Catastrophe modeling firm AIR Worldwide has issued a bulletin analyzing the magnitude 7.4 earthquake that struck southwestern Mexico yesterday. Dr. Tao Lai, Principal Engineer at AIR Worldwide, explained that the “tectonic setting of western Oaxaca is shaped by the subduction …

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Allianz Teams with Experts to Assess Climate Change Impact on Insurers

Charles E. Boyle — Thu, 15 Mar 2012 11:12:37 +0000

Europe’s largest insurer, Germany’s Allianz SE, posed the following question: “How does climate change affect the business model of a large insurance company?” In order to find the answers Allianz announced that it’s now part of a “unique consortium including …

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AIR Analyzes Increased Japan Risk after Tohoku-Oki Earthquake

Charles E. Boyle — Fri, 17 Feb 2012 19:31:52 +0000

Catastrophe modeling firm AIR Worldwide has released a new report - “Understanding Earthquake Risk in Japan Following the Tohoku-Oki Earthquake of March 11, 2011.” The report stresses that the “M9.0 Tohoku earthquake changed the seismic risk landscape of Japan. In …

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Best Analyzes Impact of Flood Losses on Thai Insurance Industry

Fri, 10 Feb 2012 18:53:35 +0000

A.M. Best Co. has released a briefing that provides updated estimates of insurers’ losses from the Thailand floods. The overall industry wide insurers’ loss estimates from the floods have increased 50 percent to $15 billion since Best’s last briefing on …

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IUA to Compile New Statistical Analysis of the London Insurance Market

Tue, 17 Jan 2012 18:38:11 +0000

The International Underwriting Association announced a number of new initiatives to enhance and expand its statistics for the London company market in 2012. In 2011 it published a “groundbreaking analysis that comprehensively measured premium income generated by insurance and …

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Swiss Re Economists See Weak Growth; Some Market Hardening; EU Peril

Fri, 02 Dec 2011 11:07:37 +0000

Swiss Re presented its latest analysis of the global economic outlook and its potential impact on the insurance industry at an economic forum in London yesterday, December 1. Chief Economist Kurt Karl began the discussion with an admonition that the …

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AIR Gives Preliminary Analysis of Peru Quake Losses

Mon, 31 Oct 2011 11:51:27 +0000

In a bulletin released shortly after the earthquake in Peru, Catastrophe modeling firm AIR Worldwide said that “given the relatively sparse population in the epicentral area and the fact that insurance penetration is generally low (estimated at just 2 percent …

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Munich Re: ‘Uncertainty,’ Economic Crisis, Challenge Re/insurers

Tue, 25 Oct 2011 10:55:56 +0000

A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the re/insurance markets as posing “significant challenges …

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Best’s Managing Director-Europe: Solvency II is Coming to an Insurer near You

Mon, 24 Oct 2011 10:02:31 +0000

Stefan Holzberger, A.M. Best’s managing director-analytics, recently moved to London from the U.S. He is well placed to analyze the impact of the European Union’s Solvency II regulations, not only on the Europeans, who are directly affected, but also on …

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AIR Analyzes Jova Damages

Thu, 13 Oct 2011 10:55:11 +0000

According to catastrophe modeling firm AIR Worldwide’s Dr. Tim Doggett, even though hurricane Jova has weakened to a tropical depression, it’s still capable of causing further damage. “Jova’s slow speed raises the potential for heavy rainfall accumulations—especially in the higher …

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Best’s Special Report Sees Mounting Pressure on UK’s P&C Insurers

Wed, 28 Sep 2011 10:21:16 +0000

A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial performance. “Results for 2010 also provided further …

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P/C Industry ‘Adequately Capitalized’ Says Best, Despite Irene Losses

Mon, 29 Aug 2011 10:27:55 +0000

A.M. Best has begun an assessment of the potential financial impact Hurricane Irene’s passage through the Caribbean and up the East coast of the U.S. might have on the property/casualty industry in the U.S., Caribbean as well as the global …

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When Rating Agencies Judge the World – an Analysis

Wed, 03 Aug 2011 09:29:16 +0000

The man who holds in his hands the fate of U.S. credit, and with it potentially the global economy, favors small tie knots, sports a bushy mustache and smokes his fair share of cigarettes. Beyond that, he is a mystery, …

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Willis’ ILS Report Sees Increased Investor Interest in Cat Bonds

Thu, 14 Jul 2011 17:50:32 +0000

A new report from Willis ILS – Investors Eager for Cat Bonds Following Light Second Quarter Issuance – concludes that, despite, or perhaps due to the catastrophes experienced during the first quarter of 2011, investors are showing renewed and increasing …

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French Crash Probe Raises No Urgent A330 Safety Concerns

Tue, 17 May 2011 15:12:16 +0000

Preliminary readings of black box data recovered from a French Airbus plane that crashed in the Atlantic have eased any immediate concerns over the safety of A330 aircraft, but investigators warned on Tuesday against rushing to blame the crew for …

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Aon Benfield Analyzes Q1 Cat Bond Performance

Thu, 05 May 2011 10:27:02 +0000

Aon Benfield Securities, the investment banking subsidiary of Aon Corp., has released its latest Insurance Linked Securities (ILS) report, which examines the key trends in the ILS sector during the first quarter of the year. The report notes that …

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