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Insurance
Cat losses prove uncertain nature of industry
The recent string of hurricanes and other events that have hit the re/insurance industry in the third quarter of 2017 have also provided it with the opportunity to step up and play its part, according to Brian Ingle, head of analytics at Willis Towers Watson (WTW).   16 October 2017
Insurance
Regulators need education on big data
Explaining what big data is, how it can be used and its benefits to regulators is an important issue for the property/casualty industry—not least to dispel the notion that insurers use such information to their own ends and not to benefit customers, Kurt Bock, the incoming chair of the PCI’s board, told PCI Today.   16 October 2017
Insurance
Lloyd’s pays out $738m in Q3 nat cat claims
Lloyd’s has paid close to three quarters of a billion dollars ($738 million) in claims so far for Hurricanes Harvey, Irma and Maria, said Jon Hancock, performance management director at Lloyd’s.   16 October 2017
Insurance
Insurtech startup CoverWallet closes new round of funding
Insurtech startup CoverWallet has closed an $18.5 million series B funding round led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr, and Two Sigma Ventures.   16 October 2017
Insurance
Nat cat losses to become capital event for reinsurers: S&P
Losses from natural catastrophes in the third quarter will likely wipe out global reinsurers' annual earnings and ultimately become a capital event for the sector, S&P Global Ratings said on Oct. 13.   16 October 2017
Insurance
Flood modelling is challenging but vital
The recent hurricanes have turned the spotlight on to the importance of flood modelling, which has come a long way in a short amount of time, Pete Dailey, vice president and head of global flood models at RMS, told PCI Today.   16 October 2017
Insurance
US P/C market rocked but resilient after storms, claims S&P
S&P Global Ratings has announced that it expects US property/casualty (P/C) insurers’ credit to be resilient in the face of hurricanes Harvey, Irma and Maria (HIM) in its latest rating report.   16 October 2017
Insurance
A new type of partnership
Partnering with a strategic managed services provider at the cutting edge of change represents a sensible strategic decision that allows insurers to focus on their core strengths, Arun Balakrishnan, chief executive officer of Xceedance, tells PCI Today.   16 October 2017
Insurance
Hurricanes and the importance of ERM to ratings
The fact that the recent hurricane losses are unlikely to become a capital event for reinsurers owes much to the industry’s greater sophistication in its use of enterprise risk management, writes Stuart Shipperlee, managing director of Litmus Analysis.   15 October 2017
Insurance
Everest Re faces $1.2bn in Q3 nat cat losses
Bermuda-based Everest Re said on Oct. 12 that it expects to incur pre-tax catastrophe losses, net of reinsurance and reinstatement premiums of $1.2 billion in the third quarter.   13 October 2017

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