Loss Control

Reinsurance intermediary Guy Carpenter and catastrophe modeling firm Risk Management Solutions say they helped the Metropolitan Transportation Authority sell the first-ever bond to protect against storm surge.

RMS announces the release of its North American hurricane model suite, version 13.0, which has the ability to quantify the risk from catastrophic hurricane-driven storm surge, and includes new insights into future hurricane activity levels.

RMS announces the release of its North American hurricane model suite, version 13.0, which has the ability to quantify the risk from catastrophic hurricane-driven storm surge, and includes new insights into future hurricane activity levels.

The role of risk management is steadily growing, with 62 percent of institutions having an enterprise risk management program in 2012, says risk management and consulting firm Deloitte.

Bermuda registered 34 new insurers in the first six months of 2013, reports the Bermuda Monetary Authority.

Tropical Storm Dorian is expected to weaken slightly as it moves across the open waters of the Atlantic Ocean toward the Caribbean, forecasters at the U.S. National Hurricane Center said.

Tropical Storm Dorian is expected to weaken slightly as it moves across the open waters of the Atlantic Ocean toward the Caribbean, forecasters at the U.S. National Hurricane Center said.

For many recent hurricanes the damage caused by the storm surge far outweighed the wind-driven impacts but many storm surge models have been shown to underestimate the potential insured losses.