Posts Tagged ‘Superstorm Sandy’



July 29th, 2015

2015 Atlantic Hurricane Season - What Are We Preparing for Anyway?

Posted at 1:00 AM ET

Any hurricane can produce wind, surge and inland flood impacts. The severity and scope of impacts is not always consistent with rating on the Saffir-Simpson scale, particularly for surge as we have seen with Katrina (2005) and Sandy (2012).

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October 21st, 2013

When Contract Certainty Isn’t So Certain

Posted at 1:00 AM ET

Richard Banyard, Senior Vice President, Lance Finley, Managing Director, Jane Furnas, Senior Vice President and Scott VanKoughnett, Senior Vice President

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Insurance policies are carefully drafted to outline coverage that is needed by policyholders while also specifying those areas where coverage is not expected to apply - the goal is to provide contract certainty, not in the usual sense of timeliness of contract signing, but from the perspective of specific policy language.  Sometimes, however, contract certainty is not so certain.  Recent examples have shown that insurers are increasingly facing reinterpretations of their policies by the judicial system, regulators, politicians and even the public via social media, all exerting pressure on insurers to provide coverage not previously anticipated by the drafters and underwriters of those policies.  As these claims are presented to the reinsurance market, pressure is also put on reinsurers to provide coverage that they may not have originally contemplated.  Insurers need to know that their reinsurers partner with them in such situations, and that reinsurance contracts provide appropriate flexibility to help ensure the reinsurers’ promise to pay.  The comments made in this article are intended solely to foster discussion on this topic.

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October 20th, 2013

Guy Carpenter Reveals Findings of Damage Survey in Sandy-Impacted Northeast

Posted at 5:00 AM ET

Guy Carpenter & Company released a comprehensive assessment of the damage resulting from Superstorm Sandy, highlighting meteorological aspects of the storm and detailed observations of some of the most severely impacted areas across the Northeast.

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February 14th, 2013

CAT- i Reports in Second Half 2012

Posted at 1:00 AM ET

Here we review all of the CAT-i report events that appeared on GC Capital Ideas in the second half of 2012.

Floods in Eastern Australia, February 1: Ex-tropical cyclone Oswald tracked over parts of Queensland and New South Wales in eastern Australia between January 23 and January 30, resulting in widespread damage from flooding, severe storms and tornadoes. Floodwaters in some areas reached record levels, causing damage to thousands of properties and forcing widespread evacuations.

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Update: Sandy, October 31: The full scope of Sandy’s impacts will still take a day or two to emerge. As storm surge recedes and those affected survey the damage, the last 24 hours have brought new reports of downed trees and power lines, with localized inland flooding, over an incredibly large area from the Mid-Atlantic to the Great Lakes to Atlantic Canada.

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Tropical Storm Isaac, August 30:  Tropical Storm Isaac now carries maximum sustained winds of 40 mph. It continues its slow drift, now to the north-northwest. Storm surge, inland flooding, and inland tornadoes remain as ongoing hazards with Isaac.

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January 22nd, 2013

Chart: Long-Term Evolution of Shareholders’ Funds, 1998 to Q3 2012

Posted at 1:00 AM ET

Dedicated reinsurance capital was at a record high immediately prior to Superstorm Sandy.

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January 3rd, 2013

January 1, 2013 Renewals Bring Stable Reinsurance Pricing

Posted at 12:05 AM ET

141x141jan1Guy Carpenter reports that the reinsurance sector enters 2013 equipped with ample dedicated capital and stable pricing. In its 2013 global renewal report, The Route to Profitable Growth, Guy Carpenter finds that the January 1, 2013 renewals took place against a stable backdrop, with only loss-affected lines and select regions experiencing price volatility. The market was supported by a combination of factors including lower than normal catastrophe losses during the first nine months of 2012, new reinsurance capacity and record-high levels of capital.

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November 12th, 2012

Superstorm Sandy: Initial Impacts and Implications

Posted at 1:00 AM ET

Guy Carpenter has published a new briefing: Superstorm Sandy: Initial Impacts and Implications

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