Is Hot Desking a Cool Idea -- or a Catastrophe?remember the college library before the internet?Any of us who went to college before the internet lived this nightmare -- remember trying to study/work effectively in the library? We had to bring everything we'd need in our backpacks and arrive early...
The central insight of asset pricing is that a security's value depends on both its distribution of payoffs across economic states and state prices. In fixed income markets, many investors focus exclusively on estimates of expected payoffs, such as credit ratings, without considering the state of the economy in which...
Byline: Mark A. Hofmann JERSEY CITY, N.J.-U.S. property/casualty insurers will pay an estimated $56.8 billion in insured property losses from catastrophes in 2005, according to the Insurance Services Office Inc.'s Property Claim Services unit. Byline: Mark A. Hofmann ...
OLDWICK, N.J. -- Given the recent enhancements made to many catastrophe management tools available to the insurance industry, A.M. Best is making modifications to its catastrophe stress test, which in some cases will require less capital for a company to support its catastrophe exposure. Those companies that would be afforded...
Natural catastrophes often have catastrophic risks on insurance companies as well as on the insured. Using a very large dataset on homeowners' insurance coverage by state, by firm, and by year for the 1984 to 2004 period, this paper documents the positive effect on losses and loss ratios of both...
Hurricane Katrina and the terrorist attacks of 9/11 2001 have focused attention on the appropriate role of government in providing insurance against catastrophes. This paper argues that wherever possible governments should follow policies which enable the continuation of a private insurance market. In the event that government must itself provide...
SAINT PAUL, Minn. -- The Travelers Companies, Inc. (NYSE:TRV) today announced the establishment of a multi-year catastrophe bond program. The program was established by Travelers to provide reinsurance protection for its insurance subsidiaries for losses resulting from hurricanes and certain other catastrophes in the United States. Travelers may obtain reinsurance...
This report is a study of property catastrophe reinsurance markets in 22 countries and four regions, representing over 90 percent of the worldwide market for catastrophe reinsurance. It reviews catastrophe exposures and the availability of insurance from either private or government sources to cover losses from catastrophes. It also summarizes...
OLDWICK, N.J. -- A.M. Best Co. will host a conference call on Wednesday, April 12, 2006 to discuss the recent modifications to its catastrophe stress test. All interested parties are welcome to join the call; however, there will be limited space so register early by clicking on the link below.
What is a mega catastrophe? While there are many ways to define what constitutes a mega catastrophe; for purposes of the white paper it is an insured catastrophic event of a magnitude that it would affect the ability of the U. S. insurance industry to carry on its everyday activities....
Byline: MEG FLETCHER Risk managers in some industries need to prepare for unintended release of dangerous materials into the environment following a natural or man-made catastrophe. They can benefit from the lessons learned in the aftermath of t Byline: MEG FLETCHER...
FLORIDA'S TWO SENATORS deserve thanks for their legislative package, unveiled last week, addressing the growing exposure of natural catastrophes. We say that even though that we don't agree with everything that Sens. Bill Nelson, D-Fla., and Mel M FLORIDA'S TWO SENATORS deserve thanks...
The World Catastrophe Reinsurance Market: 2004 is a study of property catastrophe reinsurance markets in 19 countries and 4 regions, representing over 90 percent of the worldwide market for catastrophe reinsurance. Each chapter reviews catastrophe exposures and the availability of insurance from either private or government sources to cover losses...
In the long term, climate protection measures are necessary to buck the trend of reducing greenhouse gas emissions, scaling back the use of fossil fuels, developing new technologies. In the short and medium term, the trend can be slowed by influencing settlement patterns and enforcing appropriate construction standards as well...
This paper discusses the rules implemented for preventing the pipelines from severe catastrophe. The revised CFR 49 Part 195 became regulation following the signing of the Pipeline Safety Act of 2002. This rule requires hazardous liquids pipeline operators to formulate a documented plan, assess the risk of failure of their...
The World Catastrophe Reinsurance Market: 2003 report is a study of property catastrophe reinsurance representing over 90 percent of the worldwide market for catastrophe reinsurance. Each chapter reviews catastrophe exposures and the availability of insurance from either private or government sources to cover losses from catastrophes. The report also summarizes...
"Recent years have seen the introduction of a new class of derivative securities based on ""exotic underlyings"" such as natural catastrophes and weather. This paper analyzes the pros and cons of these new securities as assets for institutional investors. It is argued that the underlyings on which these derivatives trade...
From the executive summary: 'Catastrophes, both natural and man-made, are unique in their ability to severely and immediately affect a company's bottom line. Time and again, history has shown how a single hurricane, earthquake, tornado, or act of terrorism can destroy property, interrupt business, injure workers, and otherwise throw a...
In order to effectively manage a risk, the nature of the risk must be fully understood. But when it comes to natural catastrophes such as earthquakes, hurricanes and tornadoes, risk managers are faced with many uncertainties. Which facilities are likely to be affected? To what extent? How long might operations...
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