Weather

Researchers at Colorado State University (CSU) are expecting an above-average hurricane season for 2021, including up to 17 named storms.

The data company describes the first quarter as benign.

The reinsurer finds secondary perils accounted for over 70% of natural catastrophe claims.

The industry association reports that about 29,213 claims have been received so far.

Environmental, social and governance concerns are of growing importance to the ILS industry, but work remains to be done on building a consensus about concrete goals.

The state-backed carrier has instructed broker Guy Carpenter to renew a slightly smaller initial programme than the $2.1bn it placed last year, but will consider options for additional cover.

The models will be available in June initially for North Atlantic hurricane, Europe inland flood and Europe windstorm.

The Insurance Council of Australia says carriers have already received 5,000 claims.

Schools, state agencies and Covid-19 vaccination hubs were closed as a precaution.

A survey from the Bermuda Monetary Authority found almost 60% of P&C insurers have not changed their business strategy in response to climate change.

The reinsurer’s ceded major losses were down 2% year-on-year, despite its net retained cat losses spiking by two-thirds to EUR1.6bn.

Ageing infrastructure is a more obvious culprit for the high insured losses, BMS’s Andrew Siffert said.