Catastrophe Risks

A.M. Best said it expects insurance companies to be able to absorb losses from the deadly tornado outbreak that struck six US states December 10–11, but supply chain challenges and inflation may exacerbate insured losses. The tornado damage will dampen underwriting results for US property-casualty insurers. Read More

The Atlantic hurricane season that officially ended on November 30, 2021, lived up to predictions as an above-average season, according to the US National Oceanic and Atmospheric Administration. The 2021 season produced 21 named storms, including 7 hurricanes of which 4 were major hurricanes with winds of 111 mph or greater. Read More

AXA XL has partnered with the Cambridge Centre for Risk Studies to launch an online disaster recovery hub based on more than 100 major disaster case studies covering different events in various locations. The Cambridge Centre for Risk Studies Disaster Recovery Hub includes data visualizations and other tools. Read More

AXA XL has launched the Coastal Risk Index (CRI), a tool that maps current and future flood hazards resulting from climate change and integrates the protective benefits of coastal ecosystems into insurance risk models. The CRI assesses coastal flooding risk by comparing scenarios with and without coastal ecosystems. Read More

A senior member of the US House of Representatives' Financial Services Committee has reintroduced the Pandemic Risk Insurance Act of 2021. The legislation introduced by Rep. Carolyn B. Maloney (D-NY) would create the Pandemic Risk Reinsurance Program. Ms. Maloney first introduced a version of the legislation in 2020. Read More