Catastrophe Risks
Danish Red Cross Issues Cat Bond through Guernsey ILS Structure
The Danish Red Cross has issued a humanitarian catastrophe bond covering volcanic eruption through a Guernsey insurance-linked securities (ILS) structure. The catastrophe bond, which covers the risk of eruption of 10 volcanoes across 3 continents, raised $3 million from specialist catastrophe bond investors to support humanitarian aid following an eruption. Read More
2020's Catastrophes Underscore Need To Plan for Coinciding Perils
With an above-average number of natural disasters and a global pandemic, 2020 highlighted the need to invest in risk management planning for the possibility of coinciding extreme events, a new Aon report shows. Overall, 2020 was marked by 416 notable natural disaster events and $268 billion in economic losses. Read More
US Property-Casualty Insurers May Face Record First-Quarter Losses
US property-casualty insurers will likely face record first-quarter catastrophic losses as a result of extensive property damage from February's severe winter storms in southern states. The widespread scale of the event and the associated claims volume could drive losses ranging from $10 billion to $20 billion. Read More
2020's Above-Average Natural Catastrophe Losses Could Have Been Worse
Insured losses from natural catastrophes totaled $78 billion in 2020, but they could have been worse, according to a recent report from Willis Towers Watson (WTW). The year's catastrophe losses also give cause to consider emerging weather trends, according to WTW. Read More
COVID-19 Experience Will Change Risk Profiles Once Pandemic Passes
The COVID-19 pandemic has made dramatic changes to the way we live and work, and many of those changes are likely to remain in place once the pandemic has passed. Robust risk management frameworks will position organizations to take advantage of the changed environment, a new white paper suggests. Read More