Keyword
hurricane
Within the Margins
July 1, 2016 Greg Meckbach, Associate EditorSome reinsurers use the catastrophe models of third-party vendors; others have opted to develop their own internal models to estimate losses. But despite significant improvements in data collection and computing power, there will always be some level of uncertainty in Cat models, especially those attempting to predict losses from human-induced disasters like cyber attacks or nuclear terrorism.
Sizable U.S. property insurance price hike only expected in wake of a record hurricane year: Fitch
June 2, 2016 by Canadian UnderwriterHurricane losses in the United States equal to at least 15% of industry aggregate surplus in 2016 would likely promote a shift toward positive pricing movement, although any upward movement would be dampened by existing underwriting capacity for primary and…
More than 6.8 million U.S. homes with reconstruction value of US$1.5 trillion at risk from hurricane storm surge: CoreLogic
June 1, 2016 by Canadian UnderwriterMore than 6.8 million homes on the Atlantic and Gulf coasts of the United States are at potential risk of damage from hurricane storm surge inundation, with a total reconstruction cost value of more than US$1.5 trillion, CoreLogic said on…
Total economic losses from March winter storm in Ontario and Quebec estimated at $130 million: Impact Forecasting
April 6, 2016 by Canadian UnderwriterTotal economic losses from a winter storm in Ontario and Quebec in March were estimated to approach $130 million (US$100 million), while insurers anticipated losses well into the tens of millions in U.S. dollars, according to Impact Forecasting’s Global Catastrophe…
Aon Benfield’s Tropical Storm Risk releases forecast for Atlantic Hurricane season
April 5, 2016 by Canadian UnderwriterTropical Storm Risk (TSR), part of Aon Benfield Research’s academic and industry collaboration, is forecasting 12 named storms, six hurricanes and two major (Category 3+) hurricanes between the months of June and November. The April forecast for the Atlantic Hurricane…
Disasters at ports can cause ‘major accumulated losses across multiple lines of business,’ Swiss Re warns
March 30, 2016 by Canadian UnderwriterFor the second year in a row, Canada had “few natural disasters” in 2015, while the Aug. 12 explosions arising from sodium cyanide in the Chinese port of Tianjin shows that insurers need “more risk mapping in aggregation points,” Swiss…