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Top related persons:
Guy Carpenter - 2 you’re - 1 ” - 1 California Sen - 1 Bill Dodd - 1 Jeremy Porter - 1 Fannie Mae - 1 Todd Bevington - 1
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First Street Foundation - 1 Bank of America - 1 Treasury Department - 1 Paradise - 1 FAIR - 1 Citizens Property Insurance Corp - 1 Farm - 1 Allstate - 1

Search resuls for: "Guy Carpenter"


5 mentions found


☆ Homeowners Face Rising Insurance Rates as Climate Change Makes Wildfires, Storms More Common
  + stars: | 2023-09-20 | by ( Associated Press | Sept. | At P.M. | ) www.usnews.com   time to read: +9 min
The U.S. homeowner’s insurance industry has had three straight years of underwriting losses, according to credit rating agency AM Best. Record numbers of Americans are now insured through state-affiliated “insurers of last resort” like California’s FAIR Plan, or Louisiana or Florida’s Citizens property insurance companies. These programs were designed to insure properties where private insurance companies have refused to insure or the price for private insurance is too expensive. In Florida, Citizens Property Insurance Corp. now has 1.4 million homeowners’ policies in effect, nearly triple in five years. “It used to be homeowner's insurance was an afterthought when you are looking at buying a property.
Persons: you’re, ”, California Sen, Bill Dodd, Jeremy Porter, Fannie Mae, Todd Bevington, “ I’ve, Jen Goodlin, ‘, ’ ”, “ We’ve, ” Dodd, Dodd, Porter, Guy Carpenter, Lara Mowery, Mowery, ” Mowery, That’s, ” Bevington, Adam Beam, Janie Har Organizations: First Street Foundation, Bank of America, Treasury Department, Paradise, FAIR, Citizens Property Insurance Corp, Farm, Allstate, National Flood Insurance, Swiss, Munich Re, Hurricane Locations: California, Florida, Louisiana, Lahaina, Vermont, Maine, New York, U.S, “, Paradise, Northern California, Colorado, Munich, New Orleans, Gulf, Asheland, N.C, Sacramento, Calif, San Francisco
☆ These bonds offer high yields for taking on hurricane and other disaster risks
  + stars: | 2023-09-15 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Hurricane Lee is just the latest in what is expected to be an above-normal hurricane season this year. To help potentially pay for damages borne of these extreme weather events, companies in the insurance industry sell catastrophe bonds. There is just over $38 billion in outstanding cat bonds on the market right now, and she thinks it could push over $40 billion by the end of the year. How cat bonds work Cat bonds pay the issuer when a predefined disaster risk is realized, known as an attachment point. Investing in cat bonds While catastrophe bonds mainly target institutional investors, Amundi's Pioneer Cat Bond Fund has A shares available for retail investors.
Persons: Hurricane Lee, Corey Anger, Guy Carpenter, Artemis, Anger, Steve Evans, Amundi's, Morningstar Organizations: National Oceanic, Atmospheric Administration, GC Securities, Treasury, AAA, World Bank, Cat Bond, Artemis Deal Locations: United States, U.S
☆ Reinsurers cut Russia, Ukraine from policies on Jan 1 -broker
  + stars: | 2023-01-03 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Jan 3 (Reuters) - Reinsurers are excluding Russia, Ukraine and Belarus from policies offered to their insurance clients and cutting back their exposure to U.S. hurricanes, a report from reinsurance broker Gallagher Re (AJG.N) showed on Tuesday. Reinsurers insure insurers and Jan. 1 is the most important date in the calendar for policy renewals. Some insurers have already backed away from providing cover in Russia, Ukraine and Belarus due to risk of sanctions or of steep losses. Without reinsurance, insurers are likely to be even more reluctant to provide cover for Russia or Ukraine, industry sources say. Aviation reinsurance rates rose by as much as 200% on Jan. 1 for some types of business, Gallagher Re said.
☆ Global natural catastrophe 2022 insured losses seen at $112 bln-broker
  + stars: | 2022-12-30 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Dec 30 (Reuters) - Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. Flood and hail in Europe, Australian floods and severe storms in the United States also contributed to the total, Guy Carpenter said in a statement. Hurricane Ian and other natural catastrophes caused an estimated $115 billion of insured losses so far this year, well above the 10-year average of $81 billion, reinsurer Swiss Re (SRENH.S) estimated earlier this month. ..the sector has experienced", Guy Carpenter said, adding that the process had been "extremely late". The projected losses do not include the impact of the most recent December natural catastrophes, Guy Carpenter added.
☆ Global natural catastrophe insurance losses seen at $112 bln for 2022
  + stars: | 2022-12-30 | by ( ) www.reuters.com   time to read: 1 min
LONDON, Dec 30 (Reuters) - Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. The projected losses do not include the impact of the most recent December natural catastrophes, Guy Carpenter said in a statement. Reporting by Carolyn Cohn; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.
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