Catastrophe insurance market recommendations made by RIMS

Insurance News on catastrophe insurance losses

A letter sent to the U.S. Treasury has made a number of natural cat coverage marketplace suggestions. The Risk Management Society (RIMS) has now issued a letter to the United States Treasury in order to share its recommendations regarding potential improvements to the way that the natural catastrophe insurance market operates throughout the country. The organization had been asked to submit this letter as an element of a study conducted by the FIO. The Federal Insurance Office (FIO), a part of the U.S. Department of the Treasury, is performing a…

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Insurance news from Swiss Re shows drop in catastrophe claims

Insurance news cost

The industry has faced about half as much cost from disasters than it saw last year. Swiss Re, the massive European reinsurance company, has released its most recent insurance news statistics for the year, saying that it looks as though the industry took on about half of the claims costs for disasters this year than it did last year. The claims losses from 2011 were nearly record breaking, so the notable reduction is very welcome. The prediction made by Swiss Re in its insurance news statement was that the industry…

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The lessons business should learn from 2011 catastrophic insurance news

Business insurance report highlights the importance of business interruption coverage Following the tremendous amount of insurance news involving catastrophic events around the world last year, it is recommended that businesses take this opportunity to learn from the past and make the right coverage decisions to reduce their risk of financial harm in the future. Marsh has published a report that has shown that the scale of the 2011 catastrophes was greater than what the previous predictions from loss modeling had provided, and has now challenged the standard belief systems regarding…

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