industry loss index

Catastrophe Indices and Quantification Inc. (CatIQ), which provides analytical and meteorological information on Canadian natural and man-made catastrophes, has released a dataset containing insurance industry loss estimates for all Canadian catastrophe events since 2008.

PERILS AG has now provided its final estimate for the insurance industry losses caused by January 2015’s European windstorms Elon-Felix. The final estimate shows that losses grew by just one million euros since the first estimate to €329m.

What a difference two years can make. In September 2013 John Nelson, Chairman of the Lloyd’s of London insurance and reinsurance market, had warned that mismanagement of third-party capital in re/insurance could lead to “systemic” issues in the market.

Lloyd’s of London, the oldest and only true insurance and reinsurance marketplace in the world, is planning to launch the Lloyd’s Index, an index for diversified insurance risks, featuring loss ratios and data on insurance market performance.

Insurance and reinsurance market focused technology provider Xchanging plc has updated its reinsurance deal placement and distribution platform to include index-based products, such as industry loss warranties (ILW’s).

PERILS AG, the provider of industry-wide European catastrophe exposure, industry loss data and indices, has launched a new website called Wind-Jeannie which provides forecasts of potential industry losses from European windstorms.

PERILS AG has lowered its insurance industry loss estimate for January 2015’s European windstorms Elon-Felix from the last report of €335m down to a reduced €328m, which is back to where the first estimate for this storm was reported.

Two market factors are likely responsible for a slow-down in the use of industry loss data provided by PERILS AG, the excess capital in reinsurance has reduced the need for retrocession, while the rise of indemnity trigger popularity has dominated trigger use.

Verisk Analytics is actively exploring the development of a new index to facilitate large industrial loss risk transfer, which would specifically be focused on industrial and commercial fire and explosion loss events.

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has released an updated estimate of €335m for insurance industry losses from January’s European windstorms Elon-Felix.