catastrophic events News

SCOR Launches Contingent Capital Facility as Solvency Cover After Major Cat Event

SCOR announced the launch of a new three-year contingent capital facility, which provides the group with €300 million ($319 million) coverage in case of an extreme natural catastrophe or life events affecting mortality. SCOR said the facility takes the form …

Rising Sea Levels Ranked as Greatest Climate Change Threat: Guy Carpenter

Guy Carpenter & Company has an analysis of the evolving risk landscape spurred by global warming, which stresses that “climate change, global warming and the resulting landscape shift for risk management is a growing area of concern among governments, the …

Willis Calls for Industry Action on ‘Black Swan’ Risks

“The insurance industry should move beyond traditional insurance solutions and start thinking of new ways to protect companies against the consequences of so-called Black Swan events, such as the Gulf oil spill or last year’s Japanese tsunami,” warned Phil Ellis, …