Despite a record year for the insurance and risk-linked securities markets, improvements in modelling, documentation and paying claims must be made if the sector is to continue with its rapid development. Intelligent Insurer reports on the topics high on the agenda at the SIFMA Insurance and Risk-Linked Securities Conference.
In 2013 approximately $7.1 billion of new cat bonds were issued, which led to an all-time high of outstanding cat bonds that reached just over $20 billion. However, despite strong investor demand and interest from new sponsors, the industry must take a pragmatic approach to tackling problems which are reducing the efficiency of these markets.
“The whole point of the bond market is to disperse risk. We don’t want cat bonds to move to an underwriting perspective." John DeCaro
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SIFMA, Bill Dubinsky, Willis Capital Markets & Advisory, Judy Klugman, Swiss Re Capital Markets, John Seo, Fermat Capital Management