trigger

Yesterday we wrote about the impending payouts from microfinance organisation Fonkoze in Haiti who had told policyholders that they were ready to give all clients in areas hit by intense rain and wind from tropical storm Isaac a $125 payout, forgive their existing loan balance, and give them a new loan when they require it. […]

While attention is focused on the damage caused by hurricane Isaac when it ploughed into the Louisiana coastline it is easy to forget that before Isaac reached the U.S. the storm caused extensive damage in the Caribbean. The worst affected island appears to have been Haiti, which Isaac struck while a strong tropical storm bringing […]

The success of Property Claims Services (PCS) industry-loss index and its usage in the catastrophe bond sector is highlighted in a report published today by PCS which discusses the cat bond market in the first-half of 2012. The PCS index has become one of the dominant trigger types used in the catastrophe bond market with […]

French reinsurer SCOR have announced that they have extended the cover available to them through their natural catastrophe contingent capital facility which they launched back in 2010. They have elected to extend the innovative contingent capital solution, which acts as an event-driven guaranteed equity line, by an additional €75m taking the amount of cover SCOR’s […]

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data and loss indices,has published their latest newsletter today updating the market on the events of 2011 and the progress that PERILS have made. The last time we reported on PERILS progress they had just reached $3.18 billion of risk transfer capacity placed using […]

Yesterday we updated you on the PERILS AG industry loss index usage within the insurance-linked securities and ILW markets and our article shows how use of the index and underlying data has grown to include 40 insurance risk transfer transactions with $3.18 billion worth of capacity. PERILS AG published their latest newsletter yesterday and it […]

The last time we wrote about PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data and loss indices, they had just reported that their industry loss index had been used for over $2.79 billion worth of risk transfer transactions (including ILW’s and catastrophe bonds). Now, just a month and a half later […]

Ratings agency Standard & Poor’s has announced that the Mariah Re Ltd. Series 2010-1 catastrophe bond is suspected to have been triggered after its sponsor American Family Mutual Insurance Company submitted an event notice indicating that they believe the deal to have defaulted as losses have breached the attachment point.

Reinsurer Swiss Re and it’s member colleagues of the Microinsurance Catastrophe Risk Organisation (MiCRO) are to develop a parametric microinsurance policy aimed at women entrepreneurs in Haiti. The scheme will offer a way to enable Haitian women struck by cholera with a rapid insurance payment for income lost by their businesses due to their illness. […]

Fonkoze, a lender of micro-loans to small businessmen and farmers in Haiti, have now paid out over $1m in damages to its 3,800 borrowers after heavy rainfall triggered the Microinsurance Catastrophe Risk Organization (MiCRO) policies that they provide along with their loans, according to Microfinance Focus.