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WTW launches tool to track Covid-19 property exposure in real-time

Insurance and reinsurance brokerage Willis Towers Watson (WTW) has launched a tool to help risk managers assess their Covid-19 coronavirus property exposure in real-time.The tool delivers real-time, risk and analytics information as part of WTW's Global Peril Diagnostic modelling tool, which now offers up-to-date information on confirmed global COVID-19 cases read the full article →

Insured catastrophe losses reach $72bn in 2019: Aon

Natural catastrophe events cost the global economy an estimated $232 billion in 2019, while the insurance and reinsurance industry is estimated to have paid for roughly 31% of this at $72 billion, according to broker Aon.The insurance and reinsurance broking professional services firm has estimated 2019's insurance industry loss from read the full article →

AbsoluteClimo’s climate risk models forecast fewer economic losses in 2020

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, says its models suggest that in 2020 global total economic losses from climate-driven natural catastrophes are most likely to meet or exceed $110 billion.That's significantly lower than the number seen this year and also lower than read the full article →

ILS investors need certainty on cyber, risk models are key: CyberCube

Insurance-linked securities (ILS) investors are looking for greater certainty on cyber risk before diving into underwriting cyber reinsurance contracts in ILS form. While this market is still developing, CyberCube is working directly with the industry to try to drive greater understanding and comfort of the risks involved.Cyber risk is often read the full article →

KatRisk adds treaty reinsurance capabilities to catastrophe risk model

KatRisk, a catastrophe risk modelling company with a focus on flood and wind related risks and the third-party risk modelling agency for the NFIP flood catastrophe bonds, has updated its SpatialKat product suite to add treaty reinsurance capabilities.KatRisk has been steadily updating its catastrophe risk modelling suite of underwriting related read the full article →

RMS launches HWind forecasts for North Atlantic hurricanes

Catastrophe risk modelling specialist RMS has announced the launch of a new suite of hurricane forecasting products for the North Atlantic powered by RMS HWind.The tools are part of the firms RMS HWind Real-Time Analysis Solution suite and are designed to enable proactive decisions to be made as hurricanes approach read the full article →

Risk models need to be recalibrated: Bentley, Guy Carpenter

The industries risk models "need to be recalibrated" in the wake of two years of catastrophe losses that have delivered significant loss creep, as well as to account for the changing climate, according to Robert Bentley, CEO, Global Strategic Advisory, Guy Carpenter.Despite the magnitude of recent losses, the reinsurance industry read the full article →

RMS launches new Risk Intelligence platform & sunsets RMS(One)

Catastrophe risk modelling specialist RMS has announced the launch of a new strategic risk modelling and risk management platform named Risk Intelligence, as it also announced that it would be sunsetting its beleaguered RMS(One) product.RMS said that it recognises the industry is facing undergoing a critical evolution, which has been read the full article →

Above average Atlantic hurricane & west-Pacific typhoon seasons forecast by AbsoluteClimo

Hawaii based climate and weather modeling, forecasting and risk management firm AbsoluteClimo has forecast an above average number of Atlantic hurricanes and west-Pacific typhoons will form during the 2019 seasons.The forecast goes a little against the grain of other meteorological organisations, who currently predict a relatively average hurricane season in read the full article →

RMS updates U.S. hurricane, Asia quake models. Hires MD for Asia-Pac & Japan

Catastrophe risk modelling specialist RMS has announced a raft of risk model updates, including to its U.S. hurricane model and Asia earthquake models, while also announcing a new Managing Director for Asia-Pacific and Japan.RMS said that it is releasing updates to its view of hurricane risk across hurricane-impacted countries in read the full article →