Catastrophe Risks
COVID-19 Pandemic Could Contribute to Record Catastrophe Losses
Guy Carpenter said the COVID-19 pandemic looks to rank among the insurance and reinsurance sector's most expensive events, contributing to total 2020 catastrophe losses ranging from $100 billion up to $160 billion. The pandemic also could be one of the slowest developing catastrophes insurers and reinsurers have experienced. Read More
COVID-19 Pandemic Has an Impact on June 1 Reinsurance Renewals
June 1, 2020, renewals provided the first test of the COVID-19 pandemic's impact on reinsurance markets, resulting in property-catastrophe pricing increases. Read More
Updated Forecast Projects Well-Above-Average Atlantic Hurricane Season
An updated forecast of 2020 Atlantic hurricane activity developed by researchers at Colorado State University predicts 19 named storms, including 9 hurricanes, 4 of them major hurricanes. The Colorado state forecasters said they anticipate "well-above-average activity" this hurricane season. Read More
Members Renew Caribbean Risk Pool Coverage Ahead of Hurricane Season
The member governments of the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) all renewed their parametric insurance coverage for disasters including tropical cyclones, excess rainfall, earthquakes, and fisheries ahead of the 2020 Atlantic hurricane season that started June 1. Members ceded more than $1 billion in risk to CCRIF SPC this year. Read More
Swiss Re Report Examines Emerging Risks, Some Related to COVID-19
The COVID-19 pandemic has exposed new and changing risks, highlighted societies' lack of preparation for such a crisis, and made clear that broad risk awareness is essential for proper risk management, according to a new SONAR report from Swiss Re. Read More