exceedance probabilities

As U.S. property values and catastrophe risks increase, the insurance-linked securities (ILS) sector can help to mitigate the “false sense of security” PML’s offer the global insurance and reinsurance market, according to Karen Clark & Company.

For those in management tasked with risk analysis, risk strategy implementation and long-term views of risk, the probable maximum loss (PML) “is not a useful number,” stressed Karen Clark during a speech at the SIFMA event in the U.S. last week.

Risk modelling firm EQECAT has released the third update to its five-peril range of insured loss databases and event libraries, with the release of version 2 of its U.S. Earthquake Insured Loss Database (ILD) version 2 and its Event Library for the U.S. Earthquake (USQuakeTM) Model.

Risk modelling firm EQECAT has released new versions of its U.S. Hurricane Insured Loss Database and Event Library, which allow insurers, reinsurers and catastrophe bond issuers or investors to model the frequency and severity distribution of industry losses from hurricanes.