Catastrophe Risks

Catastrophe risk modeling firm RMS has estimated total onshore US losses from Hurricane Delta at between $2.0 billion and $3.5 billion. The loss estimate includes losses to the National Flood Insurance Program of between $200 million and $400 million, RMS said. Read More

Given the systemic nature of the COVID-19 pandemic, proposed public-private partnerships to address its effects are warranted, according to A.M. Best. Best said that it expects significant reserve uncertainty to arise for the current accident year given the challenge insurers face to estimate ultimate losses resulting from the COVID-19 pandemic. Read More

Captive insurance companies are responding to the COVID-19 pandemic in ways traditional insurers frequently aren't, an experience that could lead to broader use of captives to address future crises. While most traditional market business interruption policies aren't responding to the losses, many captive insurance companies provide coverages that are. Read More

The United States experienced a record 16 billion-dollar weather-related disasters through September, according to the National Atmospheric and Oceanic Administration. Eleven of the sixteen disasters were due to severe storms across more than thirty states. The remaining five included one wildfire, one drought, and three tropical cyclones. Read More

Pandemic fears were clearly on the minds of business leaders surveyed for the World Economic Forum's newly released "Regional Risks for Doing Business 2020" report. The spread of infectious disease made the largest move up this year's ranking, finishing second globally behind unemployment or underemployment. Read More