• X
  • LinkedIn
  • Email
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Email
  • Free Trial
  • Log in

September 2017/1

  • The impact of Hurricane Harvey on the secondary cat bond market has been minimal, with no bonds triggering and only a slight dip in the Swiss Re cat bond pricing index, according to sister publication Trading Risk
  • Demand for industry loss warranty (ILW) cover on Hurricane Harvey has moved up to higher trigger levels as fears grow over the extent of private market flooding claims
  • Labelled one of the biggest US natural catastrophes in history, Harvey has so far evaded definitive damage estimates for the P&C (re)insurance industry as the event continues to unfold
  • Total return reinsurers reported better second quarter results than in the prior-year period, as they generated lower combined ratios and returns that were slightly ahead of analysts' forecasts.
  • Equity analysts last week crunched the numbers to estimate the impact of Harvey on individual (re)insurers even while the event continued to unfold
  • Underwriters in America's surplus lines market saw direct written premium (DWP) grow by a lacklustre 2.8 percent to $42.4bn last year, according to a new study from rating agency AM Best.
  • Novae has rehired the US property cat reinsurance team that it agreed in June to transfer to Fidelis and reversed its decision to exit the class, The Insurance Insider understands.
  • Almost three months after the devastating fire at Grenfell Tower, professional indemnity (PI) underwriters and their advisers are reviewing their policy wording and demanding more information on proposal forms to weed out areas that could leave their firms exposed.
  • The National Flood Insurance Program (NFIP), which is now projected to face Hurricane Harvey-related losses of as much as $10bn, underestimates annual claims by $1bn even in years without major catastrophes, a new Congressional Budget Office (CBO) study shows.
  • Dealing with the aftermath of Harvey and working on how to keep the National Flood Insurance Program (NFIP) in business past the end of this month will likely take centre stage as Congress returns from its August recess.
  • Determining the root cause of Hurricane Harvey losses and identifying whether claims should fall to the private sector or the state will create a huge legal conundrum in the wake of the storm, lawyers have said.
  • The bulk of US nationwide insurers are not expected to attach their catastrophe treaty reinsurance covers as a result of Hurricane Harvey, although the market is monitoring some companies more closely for possible cessions.