Posts Tagged ‘flood’



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.

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January 12th, 2017

GC Capital Ideas Top CAT-i Stories: 2016

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

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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

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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.

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December 19th, 2016

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

Posted at 1:00 AM ET

day-2-headshot-jonathan_clark_april-2015-crop-sm21lorenz_cheryl_sm2Jonathan Clark, Managing Director and Cheryl Lorenz, Vice President

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In September 2016, the Federal Emergency Management Agency (FEMA) took the historic step of purchasing reinsurance for the National Flood Insurance Program (NFIP).

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December 14th, 2016

Public Sector Risk Financing Perspectives in Europe/Middle East/Africa: Part III: Highlights of Recent Public Sector Initiatives

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whitmore_charles_photo-sm3Charles Whitmore, Managing Director

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Following years of planning by the insurance Industry and negotiation with a wide group of stakeholders including the government, Prudential Regulatory Authority (PRA), the Financial Conduct Authority (FCA) and others, Flood Re launched in April 2016. The overarching aim of the market-based scheme is to ensure better access to more affordable household insurance for those in high flood risk areas.

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December 13th, 2016

Public Sector Risk Financing Perspectives in Europe/Middle East/Africa: Part II: Public Sector Strategic Initiatives in EMEA

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whitmore_charles_photo-sm2Charles Whitmore, Managing Director

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Organizations throughout EMEA have significantly increased the establishment of strategic initiatives to close the protection gap and improve society’s ability to recover from the devastating impact of natural catastrophe losses. Marsh & McLennan Companies’ Risk & Insurance Services Segment, comprised of Guy Carpenter and Marsh, have developed resources and expertise to help clients in this area.

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November 3rd, 2016

Asia Pacific Catastrophe Report 2016: Executive Summary: Losses

Posted at 1:00 AM ET

bromo-volcano-east-java-indonesia-smEarthquakes in Taiwan and the Kumamoto prefecture of Japan and floods in southern China were the largest events. The reinsurance share of these losses appears modest. Barring a major catastrophe before the end of the year, catastrophe reinsurers are expected to return a healthy profit in Asia Pacific for the fourth year in a row.

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October 24th, 2016

From Public to Private

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frankland-nick-hs-smNick Frankland, CEO EMEA, Guy Carpenter

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The gap between insured losses and total economic losses remains stubbornly large - Swiss Re estimates that only 30 percent of global catastrophe losses in the ten years prior to 2015 were covered by insurance. Consequently, the remainder of the loss, USD 1.3 trillion, was borne by individuals, firms and governments, and this burden is increasing. Swiss Re estimates uninsured losses more than doubled from 0.08 percent of global gross domestic product (GDP) for the ten years from 1976 through 1985 to 0.17 percent for the years 2006 through 2015.

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October 23rd, 2016

Baden-Baden Reinsurance Symposium Explores Ways of Bridging Protection Gap

Posted at 10:30 PM ET

Guy Carpenter & Company hosted the Reinsurance Symposium in Baden-Baden on October 23. The eighth year that the firm has hosted the event, the theme this year was “Bridging the Gap - Is the industry doing enough to attract risk from the public to the private sector?”

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October 11th, 2016

GC Capital Ideas Top CAT-i Stories for the Third Quarter, 2016

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Here we review the top five CAT-i stories covering July through September of 2016.

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