Tag: global reinsurance

2017 catastrophes will send global insurance and reinsurance losses over $100 billion

H. Cutner
hurricane harvey damage global insurance and reinsurance

Fitch forecasts showed that this could be a record year for losses and they could be as great as $190 billion. Catastrophe global insurance and reinsurance losses are likely to break previous records, says Fitch Ratings. Its current predictions suggest that losses could be greater than $100 billion and may even rise to nearly $190 billion. Should the damage from Hurricane Maria be as great as expected, it could lead to rating downgrades. Fitch cautioned that the hurricane season is only just past half over and global insurance and reinsurance…

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Insurers wary of disastrous year on the heels of the infamous 2011

Marc

A new year has dawned and as celebrations from the holidays die down, insurers turn a wary eye toward a potentially chaotic future. 2011 has gained infamy as one of the worst years in recent history in terms of natural disasters. While some insurance organizations claim the total cost of worldwide catastrophes hovers in the range of $100 billion, Munich Re, a global reinsurance and risk solutions firm, asserts that the real total of global disasters is at $310 billion. Risk modelers have yet to release their predictions regarding the…

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AIR Worldwide Launches Multiple Peril Crop Insurance Model for China

Guest Author

Catastrophe risk modeling firm AIR Worldwide (AIR) released the industry’s first Multiple Peril Crop Insurance (MPCI) Model for China. The new model provides a fully probabilistic approach for determining the likelihood of losses to the country’s major crops: corn, cotton, rapeseed, rice, soybeans, and wheat. The model captures the significant effects that weather-related perils have on each crop during the growth stage. This detailed information will help companies better prepare for and understand the exposure they carry based on China’s specific insurance programs, which tend to vary by province. “China…

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