flood insurance

Hudson Structured Capital Management, the insurance-linked securities (ILS), reinsurance, insurtech and transportation focused asset manager, has made a second investment in specialist flood underwriting managing general agent (MGA) reThought Insurance.

Globally, insurance and reinsurance market losses from flooding have accelerated significantly, with a doubling in the total in a decade to reach US $80 billion over the 2011 to 2020 period, but then another acceleration into 2021 when they reached $20 billion alone.

The impacts of climate change could drive the economic costs of flooding in the United Kingdom some 42% higher by 2050, according to analysis by specialist flood risk modeller JBA.

Parametric risk transfer is increasingly seen as a way to carve out segments of an expensive traditional insurance product to make something more inclusive, affordable and importantly responsive available to more people.

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance, insurtech and transportation focused investment manager, has made an investment in a specialist flood underwriting managing general agent called reThought Insurance.

Florida is set to experience some of the steepest increases in rates and pricing of flood insurance coverage under the National Flood Insurance Program (NFIP) after the release of FEMA’s new Risk Rating 2.0 system comes into effect over the next year.

Research led flood risk model developer Fathom has launched a new U.S. flood model that provides 100% nationwide coverage and incorporates the ability to look at how climate change could impact flooding, as well as how changing hurricane behaviour may affect losses.

Insurance broker Gallagher has teamed up with insurtech start-up FloodFlash to offer its innovative sensor-based parametric flood insurance product to commercial clients of the firm.

Research performed by global reinsurance broker and risk capital advisory TigerRisk Partners finds that the phenomena of hurricane stalling over land has not become more frequent, but the dollar value of damages caused are rising as exposures increase.

Catastrophe risk modelling specialist RMS has launched a high definition inland flood risk model for the United States, which it hopes will help insurance and reinsurance firms to establish and expand flood risk underwriting businesses.