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Susanne Sclafane
While roughly 11.0 points of catastrophe losses hit the combined ratios of Bermuda insurers and reinsurers in 2010, they still managed to report nearly 9.0 points of underwriting profit. Favorable loss reserve development from prior years helped soften the blow according to an NU data analysis.
Chad Hemenway, Mark E. Ruquet, Susanne Sclafane, Phil Gusman
In the wake of a magnitude 9.0 earthquake that struck Japan on March 11, with insured-loss estimates reaching as high as $35 billion, analysts and rating agencies fell on either side of the debate about whether the event will cause a turn in the long-running soft-market cycle.
Chad Hemenway
Catastrophe models have become so ingrained in the insurance industry that a model revision can have profound effects on all aspects of the business, especially when loss results for some books of business can double.
John Gradowski, Anthony Latini
Having a strategic plan that goes beyond defending a balance sheet and avoiding risk is essential to surviving the new normal economy, according to Consultant John Gradowski and Investment Banker Anthony Latini.
Bill Keogh
By the end of next year, insurers and reinsurers doing business in the European Union will have to demonstrate to regulators there that they have sufficient…
Mark E. Ruquet
Banks fighting the split of MBIA Insurance Corp. into two companies said they submitted affidavits from four former New York insurance superintendents stating that the N.Y. State Insurance Dept. violated its duty by allowing the insurer to make the move.
Mark E. Ruquet
The Japan earthquake and tsunami revealed a flaw in catastrophe modelers’ planning, as modelers pointed to the fact that they did not account for the complete devastation that hit the island nation.
Chad Hemenway
An overview of how catastrophe models are used in the industry.
Chad Hemenway
Recent revision to a cat model could result in double loss indications for some portfolios. But reinsurers may be able to absorb the model changes without huge increases because they already thought the models were coming in low.
Arthur D. Postal
A conflict within the insurance industry over how to deal with the sensitive flood-exclusion issue is holding up House action on legislation that would reauthorize the National Flood Insurance Program.
Mark E. Ruquet
A recent report from Entergy Corp. said that without climate-change mediation, economic losses in the Gulf Coast could rise 50-60 percent by 2030 to $23 billion annually.
Bryant Rousseau
As someone who lived in Japan for two years—and who experienced the Kobe earthquake firsthand—the devastating disaster that struck the country hit me hard from a personal standpoint.
Chad Hemenway
A change to a catastrophe model can influence the level of reinsurance purchased by companies and impinge on the rating process.
Mark E. Ruquet
Merger and acquisition activity for property and casualty insurers, agents and brokers heated up in 2010, as insurers sought to improve their strategic standing within the industry, according to a report from Conning Research & Consulting.
Mark E. Ruquet
No matter where one stands on the issue of global warming, there are practical reasons for producers to embrace the environmental revolution—not least of which is the chance to grow their books.
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