Catastrophe Risks
Significant Uninsured Harvey Losses Mean US Insurer Downgrades Unlikely
Hurricane Harvey is unlikely to trigger ratings downgrades of individual property and casualty insurers or reinsurers, Fitch Ratings said. Fitch believes a large proportion of economic losses will be uninsured or covered by the government's National Flood Insurance Program, as losses are likely to be more heavily flood-related than wind-related. Read More
Global Insured Catastrophic Losses in 2016 Up 42% from 2015, Per Swiss Re
Total catastrophic losses from natural and man-made disasters totaled USD 175 billion in 2016, nearly twice the USD 94 billion seen in 2015, according to the latest sigma study from the Swiss Re Institute. The study also found that insured catastrophic losses were up 42 percent year over year. Read More
Flood Losses Cause Highest Economic Impact in 2016
Flood losses topped AON's "2016 Annual Global Climate and Catastrophe Report" as the cause of the highest financial and economic losses among natural disaster events in 2016 for the fourth consecutive year. This global trend has strong implications for risk managers, insurers, and reinsurers alike. Read More