ILS Market Could Bear 20% of Hurricanes Harvey, Irma, Marie Loss: A.M. Best

Article 0 Comments The insurance-linked securities (ILS) market potentially could bear up 20 percent of the insured losses generated by Hurricanes Harvey, Irma and Marie, according to an A.M. Best report. These three hurricanes during a two-month period in 2017 now serve as a “major test” for how the ILS […]

Insurance Industry Is Rethinking Cat Modeling After Last Year’s Disasters

Article 0 Comments After Hurricane Harvey swept through Texas last August, it not only left behind nearly 50 inches of rain in some areas and an estimated $125 billion in damage, but questions for the insurance industry in terms of how to approach catastrophe modeling in the future, panelists discussed […]

Small Businesses Hampered by Uninsured Damage After 2017 Hurricanes: Fed Reserve

Article 0 Comments Small businesses in the United States struggled with uninsured damages and lost revenue following a record-breaking year of hurricanes and wildfires, according to a Federal Reserve survey published on Tuesday. The report by the Dallas, New York, Richmond, and San Francisco Fed banks examined 1,800 businesses with […]

FEMA Criticized for Suppliers Not Delivering Hurricane Aid as Promised

Article 0 Comments The Federal Emergency Management Agency awarded contracts for hurricane supplies without adequately researching whether winning bidders could deliver what they promised, according to a new investigation by Democrats on a Senate oversight committee. The investigation followed disclosures by The Associated Press in November that a newly-created Florida […]