Milliman News

Does It Ever Make Sense for Firms to Pay Ransomware Criminals?

The global insurance company AXA announced in May it will stop writing cyber insurance coverage in France that reimburses customers for making payments to ransomware criminals. Cyber insurance policies have long covered these ransom costs, and it is widely anticipated …

U.S. Private Flood Insurance: The Journey to Build a New Market

Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood coverage from admitted private insurers would never exist. …

CoreLogic: More Than 600K Homes in Carolinas Could Be At Risk from Dorian

The wrath of Hurricane Dorian isn’t over yet and many more communities in its path are at risk and are bracing for the storm after it demolished the Bahamas earlier this week. The extremely slow-moving hurricane is finally reaching the …

Karen Clark & Co. Estimates $300M in Non-NFIP Insured Losses from Barry

Catastrophe modeling firm, Karen Clark & Company (KCC), says insured losses from Tropical Storm/Hurricane Barry and its remnants will near $300 million. That figure does not include National Flood Insurance Program (NFIP) losses. KCC based the estimate on its high …

Casualty: The Next ILS Frontier?

Executive Summary: While progress has been made in the development of casualty insurance-linked securities (ILS), there still is significant work to do, says Aaron C. Koch of Milliman, who discusses some of the key structural and product design questions that …

U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’

The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, …

Milliman Opens Office in Israel

Milliman Inc., the global consulting and actuarial firm, announced it is opening an office in Tel Aviv, which will provide the full gamut of insurance and actuarial consulting services. Benny Gabbay, a leading figure in the Israeli insurance industry, and …

Soaking Up Insurance on a Sunny Saturday at the Carnival and Ballpark

While predictive models may not always hold up as well as we hope, luckily the weather forecast did for this sunny Saturday. After a hard week in the office, I was taking my boys out for a day at the …

Milliman Report on Europe, Japan, Asia Insurers Sees Increased Embedded Value

Global consulting and actuarial firm Milliman, Inc. has announced the availability of two new reports detailing embedded value (EV) results for 32 major insurance companies in Europe and Japan and 14 major insurance companies operating in Asia. The reports examine …

Milliman Opens New Office in Belgium

Seattle-based independent actuarial and consulting firm Milliman announced that it has opened a new office in Brussels to augment the “global consulting firm’s growing presence in Europe.” “By adding an office in Brussels, we expand and support our current presence …