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The Munich Re Innovation Syndicate will underwrite a wide range of business starting in 2020.
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The EUR45mn ($49.50mn) Atmos Re I cat bond from Unipol is likely to lose nearly 50 percent due to severe weather events in Italy, according to sources.
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The number of assignment of benefits claims in Florida increased by 40.9 percent year on year in June before the implementation of the state’s new laws designed to stamp out abuses of the system.
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Pacific Gas & Electric Company has inked its $11bn wildfire insurance subrogation claims deal and criticised an alternative plan put forward.
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Typhoon Faxai losses are unlikely to have a significant impact on the ILS markets, based on current industry estimates.
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ILS investors are unlikely to foot much of the bill from Hurricane Dorian due to the market’s low exposure to Caribbean business, according to sources.
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The risk modelling firm has released the highest estimate for industry losses so far and the top end of its prediction could hit some ILWs.
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ILS based on parametric triggers are vital in reducing insurance protection gaps and increasing resilience, the Bank of England governor said.
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The utility firm also criticised an alternative Chapter 11 proposal led by Elliott Management.
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A tropical storm warning remains in place with wind and rain forecast to affect the island in the middle of the week.
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The hurricane is forecast to have weakened to a Category 1 storm by the time it could approach the island at the start of next week.
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Non-life insurers in Japan are anticipating a 300bn yen ($2.8bn) loss from Typhoon Faxai, the chairman of the General Insurance Association of Japan has said.