Natural catastrophes (Nat Cats)
View from the top: Time for action
Insurers must fight to protect their fundamental purpose faced with the threat of external interventions, says Barry Smith, CEO, Ageas UK.
Atmospheric tanks: The big bang theory
The UK has recently seen a number of explosions involving atmospheric tanks, with major incidents at Buncefield and Pembroke. What caused the explosions and how can the risks be reduced?
Japan typhoon causing "minimal" damage
AIR Worldwide has estimated insured losses from Typhoon Roke are between $150m and $600m.
American broker blames barriers to entry for lack of interest in London
Reinsurance broker Tiger Risk Partners UK has claimed to be the first US-owned broker to set up a London office since 2003, blaming the lack of interest on the UK’s “significant barriers to entry”.
Lloyd's to only take on "inherently profitable" business plans
Lloyd’s has denied coming down harder on underwriters to write reasonably priced risks but admitted it will be more difficult to convince the market of profitable business plans.
Lloyd’s announces £697m interim loss
Lloyd’s made an interim loss before tax of £697m for the six-month period ending 30 June 2011, in what is already likely to be the second most expensive year ever for insurers.
AIR cuts loss estimates for Irene
Catastrophe modelling firm AIR Worldwide has cut its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between $200m $400m (previously $300m to $700m).
View from the top: Business as usual
In May, when I last wrote this column, all eyes were on mid-year reinsurance renewals given the pummelling that the year’s natural catastrophes had already delivered to reinsurers.
AIR Worldwide links with Trillium to provide geocoding to insurers
AIR Worldwide and Trillium Software have reached an agreement to provide more precise geocoding.
French academic institutes join Willis Research Network
Willis Research Network has introduced two new French members to its network.
AIR updates European wind and earthquake CAT models
Catastrophe risk modeling firm AIR Worldwide has released updates to its Extratropical Cyclone and Earthquake Models for Europe.
Perils says cat total exceeded $2.5bn
Zurich-based European catastrophe insurance data group Perils has revealed that its industry loss index since the beginning of 2010 has exceeded $2.5bn.
Eastern European markets key to Austrian insurers' prospects
Prospects for Austrian insurers are closely linked to insurance markets in Central Eastern and Southern Eastern Europe, where more than one-third of their premium income originates, according to a new report.
Hannover Re: rates and demand to rise
Hannover Re said it expected heavy losses from natural catastrophes to mean the widely varying market hardening observed across the board in previous renewal phases to be sustained.
Catastrophe poll result
Find out if the market voted for government to be the fund of last resort in catastrophes?
No market swing despite cat loss accumulation
Loss adjuster Crawford & Company has already settled approximately $1.05m (£653 000) worth of losses from the “high frequency, low severity” claims resulting from Hurricane Irene.
Lloyd’s heading for tough times as catastrophe losses hit profits
Lloyd’s first half-year results will be adversely affected by this year’s “unprecedented” level of catastrophes and could see its combined operating ratio hit 100% for the first time in six years, according to market observers.
Interview - Jon Hancock: Getting under the skin
As UK commercial managing director for RSA, Jon Hancock is on a mission to find out what brokers really think of the insurer
North of the boarder: Redesigning structured settlements
In the recent case D’s Parent & Guardian v Greater Glasgow Health Board (2011), a 10 year old child, D, suffered catastrophic neurological trauma during forceps delivery at birth.
Monte Carlo Rendezvous: A year of catastrophes
2011 has seen a series of serious natural catastrophes follow fast on those of 2010. How will this shape debate next week at Monte Carlo?
9/11 Contract certainty: The first steps taken
A rush of legal cases always followed a catastrophic loss before contract certainty was introduced. The attacks on 11 September 2001 thrust the issue into the spotlight but were other factors at play?
Reinsurance market reassured by AM Best there is hope
AM Best said there are hopeful signs emerging for the global reinsurance industry after years of a soft market, weak investment returns, lukewarm investor interest and sluggish consolidation activity.
AM Best offers hope for reinsurance
AM Best says hopeful signs are emerging for the global reinsurance industry after years of a soft market, weak investment returns, lukewarm investor interest and sluggish consolidation activity.
Moody's changes global reinsurance outlook to stable from negative
Moody's Investors Service has changed the outlook on the global reinsurance sector to stable from negative reflecting the momentum for a hardening in reinsurance rates, a refocusing on the value of reinsurance, and the good risk management and discipline…