catastrophe

However, Fitch recognizes that in most cases, the key driver of a rating for a catastrophe bond when applying the ILS Criteria is based on the probability of loss exceedance as computed by catastrophic modelling experts.

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.

Moreover, the median R-squared exceeds ninety percent in the two sample states (Florida and South Carolina) with the most severe catastrophes.

property and casualty underwriters have barely $100 billion in capital with which to pay insured losses, several major catastrophes occurring over a relatively short period of time (or a spate of minor ones) could seriously cripple this vital industry.

We selected CATRADER because it is the most flexible catastrophe bond analysis tool, and it provides full transparency when analyzing positions in our portfolio," said Sandro Kriesch, partner of Twelve Capital.

2 billion in claims, nearly as much as all 2004 catastrophe claims;

In recent years, markets for catastrophe reinsurance and primary insurance have experienced episodes of sharp price increases and/or limits on available coverage following major catastrophe losses.

Clark founded the catastrophe modeling industry after identifying a need for probabilistic modeling techniques and better catastrophe risk assessment tools for the insurance industry.

Access to many of the most severely damaged neighborhoods was delayed as civil authorities cordoned off areas deemed unsafe, again forcing insurers to reverse typical catastrophe response practices of working outward from the most severely to the least impacted communities.

Aggregate policyholders' surplus, the measure of insurance capacity, increased sharply in 2006 as a result of strong pricing and few catastrophe losses.

Recent catastrophes notwithstanding, reinsurers are seeing a shift in focus in property coverage from pricing to negotiations over terms and conditions, said Mooney.

I cannot overstate the groundbreaking quality of Karen's work on behalf of the property/casualty industry and many other businesses and governmental agencies that must anticipate and prepare for natural and man-made catastrophes.

Catastrophes represent difficult exposures-they can be low frequency but high severity.

Exposure to catastrophic loss accumulation, while a large factor for a property writer in Texas, is partially mitigated by the catastrophe reinsurance support provided by the Balboa Insurance Company (Irvine, CA), which under the terms of the agreement, gives "seasonal" aggregate loss protection to any number of catastrophes.

Catastrophes occur with little or no warning and ruin thousands of homes and businesses every year.