Hurricane
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Early evidence is leading the (re)insurance market to hope the storm can avoid the development curve of its 2017 predecessor Hurricane Irma. -
An imbalance of capital supply and demand led to strong increases to spreads at issuance for index-linked and indemnity bonds.
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Following recent hurricanes, more than 610,000 residential property claims were filed in the state.
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The firm’s flood solution will be available to layer on top of existing parametric hurricane wind policies.
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The broker found that the insured-loss figure for 2022 was nearly 60% higher than the annual average over the 21st century.
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The regulator examined carriers’ ability to model nat-cat and cyber events, with mixed results.
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Louisiana governor John Bel Edwards, state insurance commissioner Jim Donelon, and legislative leadership are in discussions about a potential special session.
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This takes its ex-Florida cat losses since the start of its reinsurance annual risk period in April above $2bn.
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The federal flood program expects ultimate losses to reach between $3.5bn and $5.3bn.
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Lane Financial said that the cat bond market is suggesting that the early markdowns were an overreaction.
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The low-risk group of funds outperformed the high-risk funds in the month and year.
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Natural disasters in North America destroyed assets worth around $150bn, of which roughly $90bn were insured.
