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Lloyd’s Disaster Risk Facility backs Australian parametric cyclone product

The Lloyd's insurance and reinsurance market has announced the launch of a retail parametric cyclone insurance product for Northern Australia, with backing from stalwart markets Beazley, AXA XL, Hiscox and RenaissanceRe. The product has been launched as part of the Lloyd's Disaster Risk Facility, an initiative that launched back in 2015 read the full article →

Chaucer & Yokahu partner on parametric Caribbean hurricane insurance

Specialty insurance and reinsurance group Chaucer, owned by leading Chinese reinsurer China Re, has partnered with parametric and data-driven insurtech MGA Yokahu to deliver parametric Caribbean hurricane insurance to at-risk communities in the region. Chaucer has launched an affordable microinsurance product for those who live in the Caribbean, aiming to provide read the full article →

McKenzie to provide trigger data for Yokahu parametric hurricane products

McKenzie Intelligence Services (MIS), a geospatial information, insurance and reinsurance intelligence provider, is to be the sole trigger data provider for parametric insurer Yokahu when it launches a string of hurricane and tropical cyclone parametric insurance products. Yokahu is the trading name for digital first Managing General Agent (MGA) McCosh Holdings read the full article →

Above-average typhoon season forecast for western North Pacific: Guy Carpenter

Reinsurance broker Guy Carpenter has warned of above-normal potential for tropical cyclones, or typhoons, in certain parts of the western North Pacific basin this year, with an above-average number of storms anticipated. Guy Carpenter warns that the number of tropical cyclones forecast to form in the western North Pacific between April read the full article →

Despite activity Pacific tropical cyclone season forecast below average

Despite reports of a relatively active start to the Pacific Tropical Cyclone season, Guy Carpenter’s Asia-Pacific Climate Impact Centre (GCACIC) has predicted slightly below-average cyclone formations and landfalls for the current season. The GCACIC, which is a joint venture of the City University of Hong Kong and Guy Carpenter & Company, read the full article →

Australia weighs up cyclone reinsurance pool or mutual insurer

The Australian government has launched a consultation process to see how access to insurance in  cyclone prone regions in the north can be eased, with measures such as a government backed catastrophe reinsurance pool or mutual insurer to be assessed. At a time when there has been a considerable push in read the full article →

Cyclone Marcia to hit Category 5 before landfall in Queensland, Australia

Cyclone Marcia has undergone a period of rapid intensification as it approaches the Queensland, Australia coastline, with forecasters now predicting a Category 5 landfall with wind gusts as high as 180mph anticipated. Cyclone Marcia had been expected to be a relatively benign storm, with little threat to Queensland and to the read the full article →

NOAA to provide storm surge watch and warnings for hurricanes

The U.S. NOAA’s National Hurricane Center (NHC) has announced plans to launch a storm surge watch and warnings graphic, the next phase following their Potential Storm Surge Flooding Map that launched at the start of the 2014 Atlantic Hurricane Season. As we reported previously at Artemis the NHC released the freely, read the full article →

Above average tropical cyclone season predicted for Australia

Australia could be at risk of more severe flooding this year as experts predict an above average tropical cyclone season for the region. The Australian Bureau of Meteorology posted their tropical cyclone season outlook recently and are urging people to prepare for the rainy season as climate models point to read the full article →

AIR Worldwide expands tropical cyclone models to include Central America

Risk modeller AIR Worldwide have announced the release of a new tropical cyclone model for Central America. The new model covers Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama offering modelling technology for the effects of both wind and precipitation induced flooding which are the two main causes read the full article →