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Category: Geo-Political


Geo-Political, Risk Management

California floods unlikely to be huge loss for re/insurers: J.P. Morgan

January 30, 2023

Via: Reinsurance News

A new report from J.P. Morgan has stated that the recent California floods are unlikely to be a huge loss for the insurance industry. The California floods hit from late December to early January. The state was hit with extreme […]


Geo-Political, Risk Management

UK-based flood insurer to launch in US

January 18, 2023

Via: Insurance Business

Parametric flood insurance company FloodFlash has announced that it has entered the US insurance market. The UK-based company said it is the first insurance provider to pay catastrophic flood claims in as little as four hours. In the wake of […]


Financial, Geo-Political, Risk Management

Reinsurance renewals – market now “one of the hardest in memory”

January 4, 2023

Via: Insurance Business

The geopolitical and macroeconomic shocks of the past year have led to a highly challenged and complex January 1 renewal period, according to global broking group Howden. In its renewal report titled The Great Realignment, Howden noted how high inflation, […]


Financial, Geo-Political, Risk Management

Significant increase in weather-related cat losses over last 20 years: CRESTA

January 3, 2023

Via: Reinsurance News

CRESTA, the re/insurance industry organisation that provides a global standard for risk accumulation zones and cat industry losses, has released its Q4 update of the CRESTA Industry Loss Index (CLIX), highlighting a significant rise in weather-related catastrophe losses over the […]


Geo-Political, Risk Management

Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit

December 28, 2022

Via: Insurance Journal

Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance […]


Geo-Political, Risk Management

Japan Urges Its Insurers to Retain Marine War Cover for LNG Shippers in Russian Waters

December 27, 2022

Via: Insurance Journal

The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry said. The Financial Services Agency and Agency […]


Geo-Political, Risk Management

Hurricane Ian’s reinsurance influence to extend well-beyond Florida: Swiss Re

December 9, 2022

Via: Artemis BM

Hurricane Ian is seen as an additional catalyst for hardening reinsurance rates, by global giant Swiss Re, who warns that its impact “will extend beyond Florida and add to pre-existing drivers of rate increases such as claims inflation.” Reinsurance capacity […]


Geo-Political, Risk Management

EMEA reinsurance profits under pressure amid “perfect storm”: S&P

November 16, 2022

Via: Reinsurance News

Analysts at S&P Global Ratings note in a new report that EMEA insurers are facing a “perfect storm” of capital market volatility, recessionary risks and heightened inflation, even as rising interest rates support investment income. But Credit Analyst Volker Kudszus […]


Geo-Political, Risk Management

Hurricane Lisa triggers parametric Mesoamerican reef insurance

November 11, 2022

Via: Artemis BM

Hurricane Lisa’s landfall in Belize on November 2nd has triggered an innovative parametric insurance product that provides a form of protection to fund repairs following storm damage to the largest barrier reef in the Atlantic Ocean. The Mesoamerican Reef system […]


Geo-Political, Risk Management

Storm Nicole targets Florida east coast, near hurricane force winds possible

November 7, 2022

Via: Artemis BM

The National Hurricane Center (NHC) warns of a “prolonged period of hazardous weather” for much of Florida state as subtropical storm Nicole has formed northeast of the Bahamas and is expected to bear down on Florida’s east coast, with near […]


Geo-Political, Risk Management

Climate Change at Top of Insurers’ Concerns, Followed by War-Related Risks

October 24, 2022

Via: Insurance Journal

Climate change remains at the top of insurance companies’ biggest concerns even as Russia’s invasion of Ukraine stokes geopolitical and energy-related fears within the industry. Global warming is considered as the biggest risk to society in the next five to […]


Financial, Geo-Political, Risk Management

Hurricane Fiona Breaks New Records in Atlantic Canada With Insured Damage of C$660M

October 19, 2022

Via: Insurance Journal

Hurricane Fiona is estimated to have caused C$660 million (US$436.8 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Hurricane Fiona is the most costly extreme […]


Financial, Geo-Political, Risk Management

FLOIR pegs initial Ian insured loss estimate at $3.28bn. Will rise significantly

October 7, 2022

Via: Reinsurance News

Initial data from the Florida Office of Insurance Regulation (FLOIR) reveals that more than 375,000 claims have been filed after hurricane Ian, mostly related to residential property, as the entity reports total estimated insured losses of close to $3.28 billion. […]


Geo-Political, Risk Management

Hurricane Ian: Loss tally continues

October 4, 2022

Via: Insurance Business

Insured losses to onshore property from Hurricane Ian could range between $42 billion and $57 billion, according to a new estimate from Verisk Extreme Event Solutions. The projection includes estimated wind, storm surge, and inland flood losses resulting from Ian’s […]


Geo-Political, Risk Management

Hurricane Ian reveals challenges of Florida’s property insurance market – report

October 3, 2022

Via: Insurance Business

Hurricane Ian is one of the most severe tropical cyclones to make landfall in Florida – and its resulting economic loss could break records, a new report from DBRS Morningstar has found. The global credit rating agency has projected that […]


Geo-Political, Risk Management

Editorial: Hurricane Ian promises an insurance storm

September 29, 2022

Via: Insurance Business

As I type, Hurricane Ian is bearing down on the west coast of Florida and looking likely to make landfall in the Port Charlotte area. Having intensified to a category four storm – with winds of 155mph just a couple […]


Geo-Political, Risk Management

Understanding present and future wildfire risks

September 27, 2022

Via: Insurance Business

GIA Map is betting it has a successful future helping carriers and others understand present and future risk of wildfires and other hazards. Launched in 2017 in California, the tech startup is an underwriting hazard system for both underwriting and […]


Geo-Political, Risk Management

Munich Re aims to push boundaries of climate insurability, say leaders

September 23, 2022

Via: Reinsurance News

Executives at Munich Re say the company is aiming to “push the boundaries of insurability” in its efforts to help understand and mitigate the impacts of climate change. Speaking at a briefing during the 2022 RVS event in Monte Carlo […]


Geo-Political, Risk Management

Hurricane Fiona drenches Puerto Rico & Dominican Republic. Bermuda on alert

September 19, 2022

Via: Artemis BM

Hurricane Fiona has impacted Puerto Rico heavily with the island experiencing a historic rainfall event, as two-foot of rains are forecast from the storm, with locally maximum amounts of up to 30 inches warned. The storm is largely causing impacts […]


Geo-Political, Risk Management

Reinsurers diverge on Florida cat risk: Moody’s

September 16, 2022

Via: Reinsurance News

Reinsurers are showing a diverging appetite for Florida property catastrophe risk, says Moody’s, ahead of further anticipated price increases and coverage constraints going into 2023. The rating agency noted that many reinsurers chose to hold steady or cut their Florida […]