Catastrophe Risks
FEMA Announces Reinsurance Plan for Flood Risk
The Federal Emergency Management Agency (FEMA) announced its traditional 2024 catastrophic flood loss risk management reinsurance placement plan for the National Flood Insurance Program. Read More
Significant Shifts Mark Global Property-Casualty Reinsurance Renewals
The January renewal season has witnessed substantial transformations in market dynamics within the global property-casualty reinsurance sector, according to a recent report from Gallagher Re. Read More
Insured Natural Catastrophe Losses To Again Top $100 Billion in 2023
Worldwide insured losses from natural catastrophes are set to exceed $100 billion again this year, driven by the high frequency of low single-digit billion-dollar loss events, according to Swiss Re. It's the fourth consecutive year that insured natural catastrophe losses topped $100 billion, the reinsurer said. Read More
Atlantic Hurricane Season Meets Forecasts for Above-Average Activity
The 2023 Atlantic hurricane season lived up to forecasts with above-average activity and was close to what was forecast by the Tropical Meteorology Project at Colorado State University (CSU), CSU researchers said in their 2023 forecast verification report. Read More
Survey Shows Lack of Flood Preparation Among US Mid-Market Businesses
A new survey found that US mid-market businesses are both largely unaware of and unprepared for the flood risks facing their businesses. According to the "Chubb Commercial Insurance Flood Risk Survey" report, some 85 percent of companies mistakenly believe their property insurance covers some, all, or most types of flooding. Read More