What If We Applied the Urgency of Solving COVID to Climate Change? It is crucial that companies and the (re)insurance market incorporate climate change into business considerations as investors, ratings agencies and financial regulators apply pressure on firms.
CAT-i Bulletin: Severe Hail Activity – U.S. Southern Plains April 28: Severe thunderstorms produced heavily clustered hail reports in the U.S. Southern Plains. Significant hail of two inches diameter or more was reported, especially in Texas and Oklahoma, with some reports of destructive hail of up to four inches diameter.
April 2021 Reinsurance Renewals; Japan: At the April 1 reinsurance renewals, property catastrophe pricing increased for the third year in a row. Following the first loss-free year since 2018, there was some consolation for buyers in that the average increase was the lowest of the past three years. Rates moved up on average by a small percentage for mutual buyers.
Engaging Stakeholders Is Key in Implementing Community-Based Catastrophe Insurance Programs: A new report from Guy Carpenter, Marsh & McLennan Advantage, and the Wharton Risk Management and Decision Processes Center, Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap, sets out an innovative model to deliver insurance and help communities close the disaster protection gap.
April 2021 Reinsurance Renewals; Korea: While Korea had not experienced any impactful losses in recent years, a mid-sized typhoon, heavy rain losses and several large single losses occurred in 2020, influencing the pre-renewal expectations. However, capacity was more than sufficient and certain markets were proactive as they sought potential cedents.
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Climate Change Is a Health Crisis. How Can Health Care and Life Sciences Respond? It is crucial that companies and the (re)insurance market incorporate climate change into business considerations as investors, ratings agencies and financial regulators apply pressure on firms.