Perils AG
Insurers rally to hail their technologies as Avantia claims flood risk first
The competition to get the upper hand in the use of sophisticated data to underwrite flood-prone properties has already started, as it seems increasingly unlikely the Statement of Principles will be renewed beyond June 2013.
Perils estimates €300m windstorm Joachim loss
Independent Zurich-based firm, Perils, today disclosed an initial loss estimate of €300m for windstorm Joachim, which occurred in Western Europe from 15-17 December 2011.
Broking - Mergers & acquisitions: Do not disturb
2011 was a relatively sleepy year for merger & acquisition activity in the broker sector. Could 2012 be a wake-up call or will the market stay snoozing?
Arab Spring: Life during wartime
Continuing civil unrest in the Middle East and North Africa presents a challenge to the property insurance market — especially concerning the limits placed by the war risks exclusion.
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
Marine - Post-IUMI: High seas scrutiny
The recent International Union of Marine Insurance conference underlined the escalating piracy problem and tasked underwriters with delivering a cargo-specific solution.
Munich Re launches $100m cat bond
Munich Re has a $100m catastrophe bond to cover US hurricane and European windstorm risks.
Japan - Post-earthquake: Aftershocks of the earthquake
New insurance legislation in Japan is set to be extensively tested six months after the devastating earthquake and tsunami that hit the country.
Concerns sparked over quality of insurer supply chains
Leading insurers have raised “serious concerns” over the industry’s ability to handle water perils claims, with restoration companies shouldering a large proportion of the blame.
Perils says cat total exceeded $2.5bn
Zurich-based European catastrophe insurance data group Perils has revealed that its industry loss index since the beginning of 2010 has exceeded $2.5bn.
Munich Re transfers European windstorm risks to capital markets
Munich Re has acquired coverage for European windstorm risks with volume of $150m from Queen Street III Capital, which in turn has placed a catastrophe bond for this amount on the capital markets.
Storm surge modelling in Germany
The German coastline suffers from storm risks on a regular basis but a lack of accurate storm modelling has meant property policies have not included cover. Edward Murray reports on how this may be set to change.
Large corporate risks - Global compliance: Could a central rules database help?
The global insurance compliance headache for large corporates operating in multiple jurisdictions is only intensifying. Veronica Cowan explores if and how a central rules database could help.
Legal update - product liability: contractual obligations
The recent case of Omega Proteins v Aspen Insurance UK raised an interesting issue for product liability insurers and liability insurers generally. Colin Peck reviews the case and its potential implications.
Event insurance - market update: the show must go on
With the shift to music downloads, artists are looking to tour more to make money, generating demand but also new risks for contingency underwriters. Sam Barrett looks at the buoyant events insurance arena and finds a growth market, despite softened…
Ex-flood chief warns UK could face Oz-type disaster
Investment in defences needs to be ongoing or the UK could face a situation as devastating as the recent flooding in Australia.
In series - Geogaphy & Solvency II: National geographical risks
With 80% of business data having a geographical element, Sarah Adams looks at the way this insurers can improve their data.
Companies reassessing coverage in wake of Egyptian unrest
Marsh has said that companies are reassessing the adequacy of their insurance coverage and risk management arrangements in the wake of political unrest in Cairo and other cities across Egypt.
Perils publishes loss estimates for five major European storms
The property insurance loss estimates for five major storm events in Europe since 1999 have been published by Perils, the independent Zurich-based company providing industry-wide European catastrophe insurance data.
More than $1bn of perils based limits place in 2010
Perils AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has today announced that total placements of insurance risk transactions based on the Perils industry loss index to date in 2010 have exceeded …
Insurance-linked transactions: Trigger happy
Eduard Held discusses trigger types and how they are being used by the reinsurance industry.
Rendevous - Talking heads 2010
Reinsurance talks to some of the industry heads ahead of the Monte-Carlo Rendevous.
Insurers given access to escape of water and accidental/malicious damage models
Experian has launched three new Perils models, providing insurance companies with greater insight into a household's level of exposure to escape of water, malicious damage and accidental damage.
Perils launches Industry Loss Index Service for European windstorm events
The new service provides index values which can be used in industry-loss-based Insurance Linked Securities and Industry Loss Warranty transactions.