trigger

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data and loss indices, continues to gain traction as the preferred source of European windstorm loss data and index tools. They announced today that their PERILS industry loss index has been involved in just over $2.79 billion worth of risk transfer transactions since the […]

French reinsurer SCOR has announced that the net losses attributable to catastrophes during Q1 2011 have reached a sufficiently high level to trigger a payment under the terms of their natural catastrophe contingent capital facility (which we first wrote about last September). As a result SCOR have issued a €75m drawdown notice under the contingent […]

The Microinsurance Catastrophe Risk Organisation (MiCRO) facility, which was launched in April by a high-profile partnership of companies, is reported (by Microfinance Focus) to have been triggered in Haiti during recent heavy rain and flooding in Haiti. The facility provides a microinsurance product which utilises a parametric trigger to settle claims after specific catastrophes including […]

Bermuda based reinsurer PartnerRe has issued a preliminary estimate of the losses it expects to see due to the tornado outbreak that impacted the U.S. during the last week of April 2011. This spell of tornadic weather caused hundreds of deaths and widespread damage, the worst of which was when impacted the state of Alabama, […]

We’ve received a number of reports over night from sources suggesting that the $300m Muteki Ltd. catastrophe bond, issued by Munich Re on behalf of Japanese cooperative Zenkyoren, has been triggered by the 11th March earthquake in Japan. The transaction is measured against the K-Net data, which we understood was still not complete, but sources […]

Flooding is a real problem in Canada. The insurance industry reacted to this problem in the past by making it impossible for Canadian homeowners to purchase overland flood insurance for their properties. Instead they have to rely on government assistance programs after flood events.

Catastrophe bond transactions can utilise a range of different types of triggers as points of measure to define whether they have experienced a loss or not. The types of triggers used by cat bond deals have changed over the years the market has existed as some come into favour and others receive less attention. A […]

The latest Swiss Re sigma study, which I posted about yesterday, contains some great graphics which demonstrate how the market has evolved over time. Imagery makes it really easy to visualise the changes the market has undergone. One particular graphic that I like shows the different types of triggers utilised in transactions over the years. […]

Munich Re have teamed up with Indonesian insurer Asuransi Wahana Tata to bring an innovative micro-insurance product to Indonesia. The product ‘Alert 1 Manggarai Protection Card‘ offers index-based flood insurance cheaply and easily to low income families in the Indonesian capital Jakarta. The new product started life as a feasibility study between Munich Re (as […]