Natural Catastrophe

Climate-related risks are accumulating in supply chains, posing a growing threat to business interruption insurers and their clients.

Tim Edwards talks to Meg Green, live at the London Market Conference 2022, about nat cat loss trends and the fallout of Hurricane Ian.

ICEYE explains how improvements in optical imagery can help track and monitor hurricanes like Ian

A new ebook from ICEYE, available to download here, explores the art of the possible for (re)insurers.

KBRA looks at a new report on the threat to coastal communities from rising sea levels in the coming decades.

Some insurers will struggle to obtain the reinsurance protection they need, according to Marcus Winter, President and CEO of Munich Re US.

Meg Green talks to Beat Kramer Mölbert, Head of Property Underwriting EMEA at Swiss Re, about the difficult economic conditions, tightening capacity and an uptick in natural catastrophes facing the property reinsurance market today.

Managing wildfire risk is an increasing concern for reinsurers.

The impacts on insurers from Hurricane Ian are likely to be material but manageable, according to a report from global rating agency KBRA.

Live from Target Markets in Scottsdale AZ, Meg Green talks to Ryan Jesenik about the future of MGUs and the fallout of Hurricane Ian.

The nation recently recorded almost $4bn in losses in less than three months

Secondary perils are not new to the (re)insurance industry. The risks presented by wildfires, hail and wind have long been modelled, assessed and underwritten by insurers and reinsurers alike.

There’s been no let-up in nat cat events so far this year, with insured losses topping $10bn in the first quarter alone, for the sixth consecutive year.

As losses from secondary perils continue to reach levels typically seen from hurricanes and earthquakes on an aggregate or individual event basis, insurers need to lead the discussion on risk mitigation, says Dan Dick, Global Head of Property Analytics at Aon’s Reinsurance Solutions.

Climate change is a major concern for our societies as a whole and our industry in particular.

Insurers are adopting trailblazing solutions to predict the locations of large-scale infernos

Global political and economic issues create a turbulent outlook for the reinsurance industry

Increased frequency and severity of secondary perils, complicated by supply chain disruptions and inflation, are putting pressure on property insurers.

As climate change increases the frequency of extreme weather events, there is a greater risk of coastal and inland flooding and an increasing risk of structural damage. Hurricanes pose a significant threat in parts of the US, and as their occurence and severity increase property losses will continue to rise. The insurance industry has a key role to play in reducing losses from catastrophic risks, with customers now more than ever turning to insurers for expert advice.

All insurtechs have the potential to change the industry, but Insider Engage examines three to watch: Arbol, ICEYE and EigenRisk.

Join us 11 a.m. EST on August 24, for a free webinar offered in association with Guidewire

Join us for a webinar in partnership with KBRA as we explore how insurers are navigating the increase in claims.

It is little wonder that brokers report that demand for political risk insurance has been on the rise in Latin America, and that underwriters have become wary of the risk.

Insurers can play a leading role in closing the protection gap by helping people plan to reduce the risk of disasters before they strike, and by providing financial help after, said Denis Duverne, chairman, Insurance Development Forum, and chairman of AXA, in an exclusive interview with Insider Engage.

Tim McCosh, Co-Founder and CEO of Yokahu, looks ahead to what promises to be a busy next year as parametric products step in to bridge the trust gap in insurance

A potent storm system on December 10-11 that saw a reported 70 tornados tear across Kentucky, Arkansas, Illinois, Mississippi, Missouri, and Tennessee resulted in widespread devastation and tragic loss of life. In Kentucky alone, a significant long-track tornado that started in Woodland Mills, Tennessee, traveled a 165.7 mile path of destruction to Falls of Rough, Kentucky.

Beyond the extensive devastation and tragic loss of life following the tornado outbreak, KBRA believes the insured property losses from the storms will be manageable for insurers.

How can re/insurers manage growing catastrophe risks if lessons from the past no longer apply?

Real events are necessary to test, and continually update, the accuracy of catastrophe models, said Karen Clark, founder and CEO of Karen Clark and Co.

Property is dominating discussions among insurers and reinsurers, even spilling into casualty talks, said Paul McKeon, President of Regional Business Units for TransRe. He recently spoke with Insider Engage Managing Editor Meg Green about challenges in the marketplace. To view the video interview, click below, or read on to see an edited transcript of the conversation.