American International Group CEO Peter Zaffino said he expects the reinsurance market’s attachment points to remain on top of losses generated by the frequency and severity of natural catastrophes. Losses will instead continue to be absorbed by primary insurance companies, …
A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …
PERILS, the Zurich-based independent organization providing industry-wide catastrophe insurance data, announced it has joined the Singapore-based Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance, which has been set up to help increase data availability for natural catastrophe insurance in Asia. …
Ecuador will temporarily increase some taxes, sell assets, and may issue new bonds on the international market to fund a multi-billion dollar reconstruction after a devastating 7.8 magnitude quake, a somber President Rafael Correa said on Wednesday [April 20]. The …
The insurance industry, the United Nations and the World Bank have formed a public-private partnership designed to help bridge the “protection gap” for developing nations, which struggle increasingly from the burden of uninsured economic losses after natural disasters. The Insurance …
A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, AIR Worldwide determined in a new report. What the catastrophe modeling firm found: the global insured average annual loss comes in at $74 …
The underinsurance of property risk – particularly natural catastrophe risks – has risen steadily over the past 40 years, even though claims payments have increased significantly during that period, according to Swiss Re’s latest sigma study. In the last 10 …
After the risk managers expressed their views on how re/insurance carriers were handling such matters as innovation, new policies and claims handling at the Federation of European Risk Management Associations’ (FERMA) bi-annual forum, the carriers got a chance to respond. …
