catastrophe derivatives

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PCS working with CSX to develop catastrophe derivatives exchange

In what could prove to be one of the most important developments in the catastrophe reinsurance market in some time, Property Claim Services (PCS) has announced that it is working with the Cayman Islands Stock Exchange (CSX) on an initiative to launch exchange traded catastrophe derivatives on the CSX.Trading in catastrophe read the full article →

Hurricane derivatives trade in record volumes during 2011

Use and trading of hurricane derivatives is approaching record levels already this year with nearly a month of the Atlantic hurricane season still to play out. Demand for hurricane derivatives, which provide a hedge against storms making landfall along parts of the U.S. coastline has grown this year according to read the full article →

IRS proposes to treat weather, catastrophe and longevity derivatives as notional principal contracts

Newly proposed regulations from the U.S. Internal Revenue Service (IRS) could change the way certain over-the-counter derivative transactions are treated for taxation purposes. The proposal would generally allow for OTC derivatives which are based on objective non-financial information to qualify as notional principal contracts (NPC's).Law firm Sidley Austin LLP have read the full article →

CCFE announce first trades in Northeast, Gulf Coast IFEX wind futures

The Chicago Climate Futures Exchange, the place where Insurance Futures Exchange (IFEX) windstorm contracts can be exchange and screen traded, has announced the first trades in the IFEX Northeast and Gulf Coast Tropical Wind contracts. 1,000 Northeast Tropical Wind contracts were traded on the 25th June while 1,000 Gulf Coast read the full article →

Catastrophe derivatives in demand in run up to hurricane season

It's no surprise to read in Business Insurance that sales of catastrophe derivatives in the run up to the Atlantic storm season are strong, with volumes traded up and prices up to as well. Demand is being helped by the general scarcity of reinsurance and the fact that catastrophe bonds read the full article →