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While funding under a World Bank loan agreement is expected to flow, the 2019 cat bond protecting the nation was not expected to be at risk.
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Jefferies’ report shows that cat losses have been spread across a broader range of perils and regions this year.
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CyberCube forecast further capital market capacity will hit the cyber insurance market next year.
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The reinsurance broker’s report comes after KCC put a $3bn insured loss estimate on the 10 December disaster.
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The firm said $3bn was still a substantial loss given that the weekend events were driven by pure tornado claims.
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The firm’s estimate fell at the lower end of the range for historic Top 10 tornado events.
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Aon’s Impact Forecast has suggested that only a limited portion of the loss will pass to reinsurers.
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Hurricane Ida was the main loss-making event, but once again secondary perils generated more than half of global losses, according to the latest Sigma report.
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This late in the year, where the claims land in terms of historic tornado loss parallels is almost irrelevant to the question of disruption, as the event will compound existing delays.
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Domestic carrier Definity has said the event could cost it up to C$25mn.
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Hail, wind and torrential rain struck Victoria and Tasmania.
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Cat risk-takers are benefitting from some money leaving the sector, but is this disruption creating inefficiencies as well?