Weather
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The model factors in the effects of climate change to date. -
The Mexican cat bond offers $125mn of protection against Atlantic named storms.
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The early May forecast is driven by factors including the El Niño Southern Oscillation.
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The insurer said it has received 19,000 claims from affected policyholders so far, with nearly 65% of these coming from customers in Queensland.
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The CCRIF has paid out $265mn since its inception in 2007.
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A total of 10 events caused more than $1bn in losses each.
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Tornados in the first six months of the year in the US were slightly above the 27-year average.
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Fort Lauderdale Hollywood airport was forced to close as a result of the flooding caused by the 25 inches of rain that fell on Wednesday and Thursday.
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The issuance is replacing $400mn of cat bond coverage placed in early 2020.
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The state is contending with flash flooding, mudslides, rockslides, power outages and high winds.
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Landslides, avalanche risks and submerged highways are just some of the extreme consequences of the storms.
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The city of Buffalo in New York state was worst impacted, but power was also knocked out in areas stretching from Maine to Seattle.
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A special session in December and prohibition of assignments of benefits have been cited on the Florida campaign trail.
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The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday.
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Georgia, Virginia and the Carolinas have declared a state of emergency as the storm moves north.
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The storm has sped up considerably over the past six hours.
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The storm is currently at Cat 4 strength but will weaken to Cat 3 as it approaches land.
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New research estimates one in six chance of magnitude 7 or higher eruption this century.
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The new recruit has worked for Argo, Allianz and the European Space Agency.
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This is UPC’s latest attempt to downsize after offloading part of its personal lines business to HCI.
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The pooled parametric insurance arrangement was trigged by localised drought.
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As part of the deal, ICEYE will provide Fermat with near real-time flood data for large-scale events.
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Windstorm Nadia/Malik was one of several to strike the region this winter.
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The 2020s is the key decade for action to limit global warming and its impacts.
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The issuance will be the fifth time to market in FEMA’s cat bond series
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This is the first natural catastrophe loss under the World Bank series of ILS deals since 2019.
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As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers.
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The firm’s estimate fell at the lower end of the range for historic Top 10 tornado events.
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Aon’s Impact Forecast has suggested that only a limited portion of the loss will pass to reinsurers.
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The storm tore through north-western Europe in October, with major losses in France, Germany and Belgium.
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The firm’s senior meteorologist noted activity was in line with expectations on major storms, if not all named storms.
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The storm has dumped more than nine inches of rain on the city of Houston and risks further damage to Ida-hit properties.
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The 13th named storm of the season made landfall in the Florida Panhandle on Wednesday.
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It is not so much the size of the hit, as the regularity of moderate cat events that is worrying risk-takers.
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It recognised the debate surrounding the “plausibility” of such scenarios.
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At least 22 people have been killed, with 3,000 power outages reported in Humphreys County as of Monday morning.
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The hurricane made landfall near Tulum, registering a 986mb pressure reading.
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While the total number of hurricanes has not changed significantly, the global proportion of major hurricanes has increased over the past 40 years.
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The tropical depression looks set to hit the Sunshine State in the early hours of Saturday morning.
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NHC says the weather system is likely to threaten Florida by the weekend.
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The German insurance association called the low-pressure system Bernd ‘one of the most devastating in recent history’.
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The deaths were reported in the town of Bad Neuenahr-Ahrweiler, south of Bonn and west of the Rhine river.
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The storm was the earliest named E storm, forming nearly six weeks earlier than average.
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A spell of tornadoes, rain and hailstorms across the continent drove the loss activity.
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It hit north of Tampa, and storm surge warnings for wider Gulf Coast were discontinued.
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It was upgraded to a category one hurricane by the National Hurricane Centre last night before being downgraded in a public advisory at 2am (EDT).
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It said the current threat posed by Tropical Storm Elsa was an example of storms being more likely to hit America’s Eastern Seaboard this season.
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Executives including AIG CEO Peter Zaffino, Aon CEO Greg Case and Munich Re CEO Joachim Wenning have joined the task force, chaired by Lloyd’s.
