‘black swan’ events News

Global COVID-19 Insurance Losses to Be Higher than Early Estimates: Lloyd’s Chairman

Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that …

COVID-19 Crisis Renews Attention on Systemic (Uninsurable) Risks

Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks, which could also include a global …

A Tough Sell: Insurance Coverage for a China Financial Crisis

Selling insurance against a financial crisis should not be difficult five years after the last one nearly wrecked the global economy. But when it comes to China, the world’s second-largest economy, the probability of a full-blown crisis is apparently so …