secondary perils

Recent results from major Italian primary insurance companies have clearly evidenced that reinsurance terms, conditions and higher attachments are driving higher retention of catastrophe losses, eroding insurer performance, Fitch Ratings has highlighted.

Concerns are being voiced over the way reinsurance capital has moved further away from secondary perils, as well as the reduction in available aggregate coverage, which perhaps led Aon to state in a recent report that this is a critical area where innovative efforts may be able to fill some of the reinsurance protection gaps […]

Investor interest in insurance-linked securities (ILS), particularly on the private ILS and reinsurance side of the market, can be enhanced with a continuation of the prudent approach to underwriting currently being seen, Marcel Grandi, Head of ILS Sourcing at Twelve Capital told us.

After another catastrophe loss year where the insurance and reinsurance industry has experienced a significant burden from so-called secondary perils, James Vickers, Chairman International, Reinsurance at Gallagher Re has called for a “redefinition” to be considered.

Secondary perils require a particular level of focus, investment and effort, when it comes to modelling risks of insurance-linked securities (ILS) and reinsurance portfolios, Aeolus Capital Management executives told us recently.