Two men were still living who had witnessed the grim catastrophe
of nearly half a century before--Marie Couttet (saved by his baton) and Julien Davouassoux (saved by the barometer).
At the same time," said Challenger, his great voice booming strangely amid the silence, "it is difficult for us to conceive that out of seven millions of people there is only this one old woman who by some peculiarity of constitution or some accident of occupation has managed to survive this catastrophe
The initial emphasis on developing derivatives for catastrophe
losses is not surprising given (1) the large risk that catastrophes
create for insurers and the correspondingly high capital costs and (2) the possibility of using aggregate loss indices that can significantly reduce basis risk for many primary insurers.
Senior executives and directors of companies exposed to catastrophes
realize they need independent information about catastrophe
risk and best practices for managing that risk because every year the financial exposure to catastrophe
As adjusters saturate the stricken area, insurers make payments, and media coverage is proactively encouraged, catastrophes
demonstrate both the human and financial value of insurance.
As predicted by Advisen analysts, the soft market continues to gain momentum due to a relatively stable year free of major catastrophes
Julianne Jessup, head of research for reinsurance intermediary Benfield Group plc, said the single biggest surprise coming out of January renewals is the limited effect of 2004's catastrophes
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
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
occur with little or no warning and ruin thousands of homes and businesses every year.
A continuing pattern of weather extremes and increasing severity of natural catastrophes
in 2003 poses a "deteriorating risk situation" that insurers will have to address, Munich Re Group said in its year-end catastrophe
25 million in the event of a series of severe natural catastrophes
on an aggregate basis.
A seemingly endless stream of smaller catastrophes
, from fires to hurricanes to hailstorms to blackouts, had nearly the same effect last year, as the $11.
Weather patterns and related catastrophes
tend to be similar in the same seasons," he said.