Catastrophe Risks
CCRIF SPC Makes Its First 2021 Atlantic Hurricane Season Payouts
CCRIF SPC has made its first payouts of the 2021 Atlantic hurricane season following July's Hurricane Elsa. The facility made $2.5 million in payouts to the government of Barbados and $528,512 in payouts to the governments of Haiti, Saint Lucia, and Saint Vincent and the Grenadines. Read More
COVID-19 Pandemic Continues To Underscore the Need To Build Resilience
As businesses continue to recover from the impact of the COVID-19 pandemic, the experience has underscored the importance of risk readiness and risk resilience. An Aon survey found that post-pandemic, building a resilient workforce is a top priority, with many companies focusing on operational resilience and retaining key employees. Read More
Modeling Firm Estimates German Flood Losses Could Reach €5 Billion
Insured losses from flooding in Germany this month could reach €5 billion, according to modeling firm AIR Worldwide. Read More
Global First-Half Disaster Losses Slightly Below 21st Century Average
Global natural disaster losses during the first half of 2021 were slightly below average, compared to 10-year and twenty-first century averages, according to a new report from Aon. The Aon report notes, however, that the year's first-half disaster losses were above a longer-term average from 1980 to 2020. Read More
Western Wildfire Trend Could Have Long-Term Implications for Insurers
The trend of damaging wildfires in the western United States resulting from excessive heat and drought conditions, combined with other adverse weather conditions, could have a significant impact on the property-casualty insurance market, according to S&P Global. The National Interagency Fire Center had recorded 35,086 fires nationwide through July 19. Read More