flood cat bond

Zurich based independent provider of industry-wide European catastrophe insurance data and loss indices, PERILS AG, has released satellite-based flood footprints for the ongoing catastrophic flooding event in Central Europe. The floods which have affected Germany, Austria, the Czech Republic and Hungary are expected to result in billions of Euros of insured losses.

Flooding across Central Europe is reaching record levels in many towns and cities after torrential rainfall struck the region in recent days. The waters are still rising in some areas of Austria, Germany and the Czech Republic and it’s possible that a meaningful insurance industry loss from this flood event could also hit reinsurers in […]

Reinsurer Swiss Re held a media event yesterday at which they discussed trends in the insurance-linked securities, catastrophe bond and reinsurance convergence markets, how the market has developed in 2012 and a few thoughts on where the market can develop further in 2013 and beyond. Encouragingly Swiss Re seem very confident on the cat bond […]

Once again a northeast U.S. hurricane has been a major flood catastrophe event. This happened last year with hurricane Irene which saw the U.S. National Flood Insurance Program, pick up a significant portion of the economic losses from the storm. It’s expected that this will also happen with Sandy and this has once again highlighted […]

A new report from Swiss Re finds that flood insurance losses are growing rapidly while the insurability of flood as a peril continues to prove difficult for the insurance and reinsurance sectors. No other natural catastrophe impacts as many people on an annual basis, with floods impacting an estimated 500 million people per year. Back […]

At the end of last week the two U.S. houses of Congress passed a bill which will see the National Flood Insurance Program (NFIP) officially extended for another five years with some reforms enacted to it as well. The reforms do not go as far as many had wanted but along with the extension this […]

A new bill, which is ostensibly a tax bill but includes reforms to the National Flood Insurance Program, has been passed in the U.S. House of Representatives (on the 13th), the first step on a long route towards becoming law (or not). The bill passed was called the Middle Class Tax Relief and Job Creation […]

Important news this morning from PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data and loss indices for insurance-linked security and industry-loss warranty transactions, who have announced that they are expanding their services to include coverage for a new class of risk, UK flood. The addition of inland flooding for the UK […]