Issuing “catastrophe bonds” and setting up public-private partnerships could help plug the “insurance gap” to better cover damage from climate change, a discussion paper from the European Central Bank and European Union insurance regulators said on Monday. Only a quarter …
Tremor Technologies Inc., the Boston-based reinsurance pricing and placing platform, has launched a catastrophe bond issuance platform called Tremor Issuer™. Tremor Issuer is part of the suite of Tremor services that can be accessed online by investors, issuers, bankers and …
The Philippines is readying an insurance plan that will protect the Southeast Asian nation from infrastructure losses caused by natural disasters, seeking to better respond to climate change risks. The government will put in place a national indemnity insurance program …
Colombia and Peru are considering returning to a World Bank program that issues bonds to cover claims on natural disasters after the plan faced a nearly two-year lull. The countries are among those looking to take advantage of renewed investor …
Bonds designed to insure Credit Suisse Group AG against disaster could outlive the bank. Credit Suisse’s Operational Re bonds, insurance-linked securities that cover the bank against perils such as falling victim to fraud and accounting errors, should remain unaffected by …
Florida Gov. Ron DeSantis raised some questions Friday when he suggested that Citizens Property Insurance Corp., the state-created insurer, has “not been solvent” and may be unable to pay all claims from a major hurricane. The head-scratching comments came just …
Investors in the $35 billion catastrophe bond market are demanding the highest premiums in years to cover issuers against disasters, as weather events become more extreme while interest rates rise. Margins on new issuances of catastrophe bonds covering US wind …
Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with the potential for additional tranches to be released …
The World Bank is looking to restart the issuance of catastrophe bonds to help developing countries improve their preparedness for losses from natural disasters. The supranational lender has issued close to $2.6 billion of catastrophe bonds since 2014, including a …
Investors who backstop Florida’s insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and push up insurance costs for residents. Ian’s landfall hammered Florida …
