With Superstorm Sandy’s one-year anniversary approaching, 51 percent of New Yorkers believe that the risk of their city being hit by another powerful storm will increase over the next two decades, according to a recent survey. The survey, from global …
The purpose of modeling is to anticipate the likelihood and severity of catastrophes so that companies can prepare for their financial impact — before they occur. The evidence suggests that, for the most part, modeling has achieved its mission. Eleven …
An industry group says Texas homeowners are paying the highest insurance premiums in the country. The report was released Tuesday by the National Association of Insurance Commissioners. The Dallas Morning News reported the study is based on premiums collected in …
A new report from Lloyd’s notes that the “the world has been battered by natural catastrophes in recent years, revealing a serious gap between the economic cost of natural catastrophes and the levels of insured risk.” Recently published research, Lloyd’s …
According to the Aon-sponsored Reputation Review 2012, a report recently issued by Oxford Metrica, an independent analytics and advisory firm, 7 out of 10 companies “measured in the report that were impacted by disasters in 2011.” They lost “more than …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of AXIS Specialty Limited and its operating affiliates, as well as the ICR of “bbb+” and all existing debt ratings …
For once there’s no natural catastrophe hanging over the annual Reinsurance Rendezvous in Monte Carlo (the 56th edition). Tropical storm Leslie missed Bermuda and Hurricane Michael is safely out in the Atlantic. But that doesn’t mean there are few concerns …
Moody’s Investors Service has maintained a stable outlook for the global reinsurance industry. Moody’s said the outlook “expresses our expectations for the fundamental credit conditions in the industry over the next 12 to 18 months.” It also “acknowledges the industry’s …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced that it has launched “ELEMENTS 7, the loss calculation platform from Impact Forecasting, which enables insurers to more easily customize catastrophe models.” The bulletin explained that the …
The National Hurricane Center says the center of what is now Hurricane Isaac may make landfall on the southeast Louisiana coastline as early as this evening. Not all forecasters share that timeline, however. Dr. Tim Doggett, principal scientist at AIR …
