PCS

Widespread uncertainty remains around much of the ultimate industry loss from the ongoing Covid-19 pandemic, but if the numbers reach as high as some of the early estimates, it’s likely to be for unexpected reasons, says Tom Johansmeyer, Head of PCS.

It’s just a matter of time before the use of industry loss triggers for risk transfer transactions broadens and is more widely used, which in turn will unlock more diversifying risk into certain sub-sectors of the insurance-linked securities (ILS) space, according to Tom Johansmeyer, Head of PCS.

The increasingly sophisticated participants within the insurance-linked securities (ILS) market aren’t going to lap up just any cyber exposure that comes their way, the deals have to make sense, according to Tom Johansmeyer, Head of PCS.

Although cyber criminals tend to thrive on chaos, so far, the presence of a global pandemic hasn’t led to any significant rise in activity or threat, according to Tom Johansmeyer, Head of PCS.

In an extensive and insightful keynote at the virtually held Artemis ILS Asia 2020 conference (now available on-demand), Head of PCS, Tom Johansmeyer discussed a number of Covid-19 loss scenarios, including the potential combined impacts of the virus and strike riot, civil commotion (SRCC) in the U.S.

A lack of historical and contextual data continues to hinder the entry of the insurance-linked securities (ILS) market into the cyber re/insurance space, and with ‘silent’ cyber exposures adding further uncertainty, it might be easiest for the ILS sector to focus on affirmative cyber, at least to begin with.

Over the last couple of years, Property Claim Services (PCS) has innovated and evolved to offer an enhanced, client-centric global strategy designed to serve both existing and new client needs.

Property Claim Services (PCS) is to provide greater transparency for U.S. catastrophe loss estimates via the delivery of state-level market share data capture rates for U.S. events with insured losses of at least $1 billion.

PCS has announced that it’s to deliver county-level resolutions for catastrophe events in the U.S. with insured losses of at least $1 billion, providing an enhanced level of granularity that contributes to lower basis risk in industry loss index trading.

Leadership changes have been announced at Property Claim Services® (PCS), the division of Verisk Insurance Solutions that collects and aggregates insurance industry loss data which is widely used in reinsurance, industry loss warranty (ILW) and catastrophe bond transaction.