While the quality of the data available and the sophistication of risk modelling has improved in recent years, the industry must still absorb some hard lessons on European windstorm risks and also consider alternative means of risk transfer, says Eddy Vanbeneden.
Intelligent Insurer spoke to Cooper Gay about the challenges it faced in handling claims from the 2010 Chilean earthquake—an event that has been acknowledged as one of the largest insured catastrophes ever recorded outside the US.
Despite a number of threats and some even greater challenges Bermuda retains its place at the heart of the international insurance community—for now. But it must remain innovative and keep fighting just to stand still.
While the fallout from BP’s Deepwater Horizon oil spill has focused the minds of many captive managers, the wider industry has seen little effect. The main areas of contention revolve around collateral levels and domicile.
Although the full implications of Solvency II for captive insurers in the EU are not yet clear, many believe that it could change the landscape of the European captive market. Intelligent Insurer investigates the possible implications of the new regulatory regime.
Agriculture is a critical sector in many countries. As shortages on the supply side have resulted in concerns over food security, demand for agricultural re/insurance products in the fast-growing emerging markets has increased.
The claims falling under excess of loss reinsurance contracts following the exceptional losses suffered in both Queensland and Victoria, Australia, need reviewing. Peter Smith poses and presents solutions to some contract wording questions.
Asbestos claims have caused the insurance industry a headache for many years. But just when the issue seemed under control, American International Group has increased its reserves for this liability.
If you are a reinsurer, the answer to the above question these days seems to be an emphatic ‘no’.
II gives both sides in the debate over proposals to tax foreign affiliate reinsurance. It seems an ideal time, as the Neal Bill is expected to be discussed by lawmakers once again following the US Congressional mid-term elections in November 2010.