Catastrophe Risks
A.M. Best Developing COVID-19 Stress Test for Rated Insurers
A.M. Best announced that it's developing stress testing that it will conduct on all its rated insurance companies' balance sheets to gauge the impact of the COVID-19 outbreak on risk-adjusted capital levels, investment portfolios, reserve adequacy, and other aspects of risk borne by rated companies. Read More
COVID-19's Possible Impacts on Captive Insurers Are Varied
Captive insurance companies will no doubt feel the impacts of the novel coronavirus pandemic and the COVID-19 disease it causes, both in the near term and possibly in the future as captive owners look to close holes the outbreak is revealing in insurance programs. Read More
SRS Closing Offices, Moving Meetings Online Due to COVID-19
In yet another impact of the COVID-19 outbreak on the captive insurance industry, captive manager Strategic Risk Solutions (SRS) disclosed Monday that it will close all offices, except for essential staff. The Boston-based captive manager will move all meetings from in person to online and will suspend all business-related travel. Read More
Coronavirus Likely To Hit US Health, Medical Stop-Loss Insurers
A.M. Best said it expects US health insurers to experience an increase in medical claims due to the spread of the coronavirus. The coronavirus also could have an impact on medical stop-loss insurers through high-dollar claims and high claims in the aggregate, A.M. Best said. Read More
First Quarter CAT Bond, ILS Issue Volume on Pace To Set New Record
First-quarter catastrophe bond and insurance-linked securities (ILS) issuance is on a record pace, according to a report from Artemis. Anticipated first-quarter volume of $5.1 billion in new catastrophe bonds and insurance-linked securities is 84 percent higher than during the same period in 2019. Read More