Catastrophe Risks
Marriott Breach Losses Estimated Up to $600 Million According to AIR
AIR Worldwide (AIR) has projected the direct cyber-incident losses for the recent Marriott breach will be between $200 million and $600 million. Read More
Swiss Re: Global Insured Loss Estimates Reflect Sigma's Fourth Highest
Swiss Re's latest preliminary sigma estimates found that total economic losses from natural and man-made catastrophes in 2018 declined to $155 billion from $350 billion in 2017. Findings also showed that estimated global insured losses are currently around $79 billion, higher than the annual average for the previous 10 years. Read More
Alternative Capital Made Up 22 Percent of Property CAT Limits in 2017
According to a recent report from Swiss Re, alternative capital made up 22 percent of all property catastrophe limits in 2017, and the amount of alternative capital was around $95 billion in the first half of 2018. Read More
BMA Report: Bermuda's Catastrophe Resilience Stronger Year over Year
The Bermuda Monetary Authority (BMA) has released its third annual "Catastrophe Risk in Bermuda" report, which, according to the BMA, demonstrates (re)insurers continued resilience to major, but improbable, catastrophe events and the sophistication and advancement of catastrophe modeling practices in Bermuda. Read More
California Wildfire Losses Manageable, According to KBRA
In a new report, Kroll Bond Rating Agency (KBRA) said California is experiencing some of the most devastating and catastrophic wildfires in the state's (and country's) history for the second year in a row and expects these losses to be manageable for most (re)insurers. Read More