To correct its rating analysis to reflect the natural catastrophe
risk, Fitch used a combination of the two rating criteria.
The demand from both commercial and public interests (including (re)insurers, NGOs, global disaster management agencies, and local authorities) for sophisticated catastrophe
risk assessment tools has never been greater, and contemporary catastrophe
modelling satisfies that demand.
Furthermore, insurers can minimize the impact on the current underwriting workflow by capturing the data required for sound catastrophe
risk management as part of the replacement-cost estimation process.
But that discussion quickly became more constructive and it's clear that modeling remains an essential part of the industry's ability to manage catastrophe
risks," said Paul VanderMarck, executive vice president of Risk Management Solutions.
If Putin believes that the dissolution of the Soviet Union into fifteen independent states represents the "greatest geopolitical catastrophe
of the century," then it follows that Putin might well believe he should do something to repair the loss occasioned by his predecessors Boris Yeltsin and Mikhail Gorbachev.
The market for catastrophe
bonds, as discussed in our 2002 report, has transferred a small portion of natural catastrophe
risk to the capital markets.
Since the amount of basis risk is fundamental to the success of derivative contracts (Black 1986), the main purpose of this paper is to examine the basis risk of catastrophe
insurance derivative contracts.
insurance futures contracts, or catastrophe
futures, constitute a new class of financial products.
Daraskevich was honored for leading the development of Characteristic Events (CEs), a tool to assist insurance companies in assessing and managing catastrophe
There's a lack of capacity in the treaty marketplace and as a result, facultative reinsurance has become a vehicle for some companies to place some of their exposures and off-load some of their risk," said Tom Stone, who specializes in catastrophe
risk management for Ernst & Young's Insurance and Actuarial Services.
Given the theme of this conference and recent concern with the supply of catastrophe
insurance and reinsurance, my brief remarks focus on possible reductions in the costs of providing catastrophe
coverage through securitization of catastrophe
risk and changes in tax policy.
based retail operations of the ACE Group, today announced that it has expanded its environmental risk insurance products to add catastrophe
Whether or not these new reinsurers, who act in consort with an established player, are publicly called sidecars, there's no doubt their presence has brought new capital to the industry and softened the hardness of the property catastrophe
market following the busier than usual hurricane seasons of 2004 and 2005.
NYSE, Euronext: PRE) today announced leadership changes in its Catastrophe
business unit, effective April 1, 2011.
There are three basic ways primary insurers can obtain catastrophe
protection: purchase traditional catastrophe
reinsurance, issue catastrophe
bonds or purchase an industry loss warranty.