insurance

More information has been revealed on a recent innovative parametric cyber risk transfer transaction, which it turns out was for an asset manager to hedge potential cyber attack related disruption to U.S. power generation assets.

Yesterday we covered the outbreak of severe convective weather, thunderstorms, large hail and flooding across a swathe of southeast Australia and already the industry insured losses from these storms has been estimated at A$320 million.

Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, has announced the hiring of Brad Sforza, previously of PartnerRe, to the role of Head of Property Reinsurance for its U.S. reinsurance platform.

While the ongoing bushfire crisis in Australia has dropped out of the headlines a little in recent days, thanks to rainfall and cooler temperatures, parts of the country have faced fresh catastrophe events as significant severe convective storms and very large hail struck a number of major urban areas over the last few days.

At a time when Australian has been sweltering in record heat while bush fires burned out of control, then suffering from severe storms, a recent study seeks to quantify the effect of climate variability on farm profits in the country.

A World Economic Forum (WEF) initiative focused on responses to humanitarian risk is investigating areas where catastrophe bonds may prove valuable tools for risk sharing with private markets and investors, according to a United Nations representative.

Zurich headquartered specialist insurance-linked securities (ILS) and reinsurance investment fund manager Twelve Capital has noted that a private collateralised ILS contract has potential exposure to the ongoing Australian bushfire losses.

Insurance products, reinsurance and insurance-linked securities (ILS) are all examples of financial shock absorbers for climate change risks, but while it can encourage behavioural change through the sending of price signals, a new report from McKinsey highlights the reality that the sector business models may need to change.

The Florida insurance market is in a state of flux, as strains from recent years have begun to drive ratings assessments and a situation where capitalisation is key, leading to a number of carrier disposals and a likelihood that both reinsurance capital and private debt will become more in-demand.

U.S. commercial property insurance rates continued to accelerate, in terms of rate firming or hardening, towards the end of 2019, with December seeing the highest monthly rate increases of the year.