industry loss warranties

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ILW volumes rise in 2018, price softens despite capacity shortages: Aon Securities

Industry loss warranty (ILW) trading volumes have risen in 2018 so far, with protection buyers showing renewed interest in the industry loss trigger based product, but while volumes rose Aon Securities has also noted that, despite capacity shortages at times, ILW prices are tending to soften.Year over year capacity has read the full article →

ILW prices fall for Florida wind, despite Irma loss creep

Industry loss warranty (ILW) pricing for Florida wind contracts and all natural perils has fallen in recent weeks, despite the fact that further ILW losses are expected after recent updates to insurance and reinsurance industry loss estimates for hurricane Irma.It's a further sign that pricing in general for property catastrophe read the full article →

Irma loss creep hits Lloyd’s syndicates & Floridian insurers

The creeping insurance and reinsurance industry-wide loss from last year's hurricane Irma continues to impact the industry, with new loss creep estimates emerging from segments of the market that were most affected, now including Lloyd's of London syndicates and the leading Floridian primary insurers.As the industry impact of hurricane Irma read the full article →

More ILW’s to pay out on latest hurricane Irma industry loss increase

A number of industry-loss warranty (ILW) contracts providing retrocessional reinsurance are set to pay out after the latest updates to third-party data providers estimates of insurance industry losses caused by last year's hurricane Irma.At the beginning of July the industry loss estimate for hurricane Irma passed another key ILW trigger read the full article →

Industry exposure database for Canada launched, first ILW transacted

The first insurance industry exposure database for Canada has been launched by Catastrophe Indices & Quantification Inc. (CatIQ) in partnership with PERILS AG and the first industry-loss warranty (ILW) transaction has been completed on the back of this development.At the moment, the industry exposure database contains year-end estimates for 2016 read the full article →

PCS Global Terror loss aggregation & index service launched

Property Claim Services (PCS), a Verisk Analytics business, has now launched its awaited latest industry loss data solution for global specialty insurance and reinsurance lines, a new loss aggregation solution and risk transfer index for terrorism risks.Artemis covered the impending launch of the PCS Global Terror loss aggregation service recently, read the full article →

PCS to launch Global Terror loss aggregation & index in Q1 2018

Property Claim Services (PCS), a Verisk Analytics business, has announced plans to launch a new loss aggregation solution for terrorism risks in the opening months of 2018, its latest industry loss data solution for global specialty insurance and reinsurance lines.PCS Global Terror is expected to be launched in the first-quarter read the full article →

Industry loss warranty (ILW) payouts could be in the billions

According to market sources, both traders and ILS fund managers, following the impacts of hurricanes Harvey and Irma a number of industry-loss warranty (ILW) contracts are expected to payout, with the total at risk seen as in the billions.One ILW trader told Artemis that there could be as much as read the full article →

PCS issues first Turkish catastrophe loss estimate for terror related events

Property Claim Services (PCS) has issued its first industry loss estimate for catastrophe events under its PCS Turkey catastrophe loss aggregation and industry loss estimation service. The combined loss estimate across two terrorism insurance related incidents is TRY 510 million (approx. $140 million).PCS has consolidated two loss events, which we read the full article →

JLT Re secures PCS ILW license for U.S., Canada & Turkey

Reinsurance broker JLT Re has secured a license to facilitate industry loss warranties (ILWs) covering the U.S., Canada, and Turkey, using Property Claims Services (PCS) data as a trigger.PCS, a division of Verisk Analytics, has announced that international reinsurance broker JLT Re, the reinsurance arm of JLT Group, has become read the full article →