Archive for the ‘Property’ Category



January 19th, 2017

Public Sector Risk Financing Perspectives in Latin America: Part II

Posted at 1:00 AM ET

aidan-pope-headshot-sm21Aidan Pope, Managing Director

Contact

In response to the continued need for post-event budget allocation, the Mexican federal government established the Fund for Natural Disasters (FONDEN) in 1996 (1). It is a financial vehicle by which the federal government provides pre-event funding from tax revenues for post-disaster response and reconstruction - it has been critical in providing the government with access to international risk transfer schemes.

Continue reading…

January 18th, 2017

Public Sector Risk Financing Perspectives in Latin America: Part I

Posted at 1:00 AM ET

aidan-pope-headshot-smAidan Pope, Managing Director

Contact

Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean region (1). As the region’s population, urbanization and gross domestic product concentration continues to grow, the effects of climate volatility are likely to further increase the impact of natural perils losses on economies that are already struggling. We are just now assessing the losses from Hurricane Matthew in the Caribbean. The ultimate costs of these catastrophe event responses causes a strain on public balance sheets and an increase in public debt, ultimately burdening taxpayers.

Continue reading…

January 17th, 2017

Further Considerations on the Hurricane “Shield” Theory

Posted at 1:00 AM ET

james-wallerJames Waller, Ph.D, Research Meteorologist

Contact

A recent New York Times article titled “Conditions That Form More Hurricanes Also Protect U.S., Study Finds” (1) notes a hurricane “shield” for the U.S. coast during busy hurricane seasons. The article, based on recent research by James Kossin, (2) provides valuable insight, including some notes of caution from other experts in the field, but the observations should be treated with a moment of pause. Some key points to consider:

Continue reading…

January 16th, 2017

Chart: Top Ten Significant Insured Loss Events: 2016

Posted at 1:00 AM ET

The table lists the latest estimates for the top ten significant insured loss events for 2016.

Continue reading…

January 13th, 2017

Global Risks Report 2017

Posted at 1:00 AM ET

global-risks-report-landing-page-sm1The Global Risks Report 2017, produced by the World Economic Forum with support from Marsh & McLennan Companies and other partners, was published this week. Now in its twelfth edition, the report provides insights into the key global risks facing businesses as well as the collective view of risk experts in all sectors as to the most significant threats to global prosperity over the next decade. The Global Risks Report 2017 will inform discussions at the World Economic Forum’s annual meeting next week in Davos, Switzerland.

Continue reading…

January 12th, 2017

GC Capital Ideas Top CAT-i Stories: 2016

Posted at 1:00 AM ET

Here is a look back at the top CAT-i stories for the year 2016.

Continue reading…

January 11th, 2017

GC Capital Ideas Top Chart Room Entries: For The Year 2016

Posted at 1:00 AM ET

From one of GC Capital Ideas’ more popular categories, we highlight the top Chart Room stories viewed during the year of 2016:

Continue reading…

January 10th, 2017

GC Capital Ideas Top Chart Room Entries: Fourth Quarter, 2016

Posted at 1:00 AM ET

From one of GC Capital Ideas’ more popular categories, we highlight the top Chart Room stories viewed during the fourth quarter of 2016:

Continue reading…

January 5th, 2017

Guy Carpenter Reports Moderating Reinsurance Pricing Decline at January 1, 2017 Renewals

Posted at 7:00 AM ET

Guy Carpenter & Company reports the decline in reinsurance pricing moderated at the January 1, 2017 renewal across most classes of business and geographies, as compared to the past three renewal seasons.  Several sectors experienced increased loss activity, which had only a localized impact on pricing while capacity remained plentiful. After remaining fairly stable in 2015, dedicated reinsurance capital increased by 5 percent from January 1, 2016 to January 1, 2017 as calculated by Guy Carpenter and A.M. Best. The convergence capital segment increased by 10 percent.

Continue reading…

December 20th, 2016

Public Sector Risk Financing Perspectives in the United States: National Flood Insurance Program (NFIP): Part II

Posted at 1:00 AM ET

day-2-headshot-jonathan_clark_april-2015-crop-sm22lorenz_cheryl_sm21Jonathan Clark, Managing Director and Cheryl Lorenz, Vice President

Contact

The new reinsurance program consists of a USD 1 million limit to protect against flood claim losses to the National Flood Insurance Program (NFIP) that exceed USD 5 million in order to test the Federal Emergency Management Agency’s (FEMA) ability to receive reinsurance claim payments and process reinstatement premium. Once that USD 1 million limit is exhausted, the reinsurance will be reinstated for an additional USD 1 million limit to protect against large flooding events that generate losses to the NFIP in excess of USD 5.5 billion. Given the geographic spread of NFIP policyholders, such events would most likely result from flood losses that were related to a large tropical storm or hurricane.

Continue reading…