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Two PCS Catastrophes: Wildfires Rage in California
The Valley Fire in Middletown could become one of the top five costliest wildfires in California history and may cause the largest losses since 2007. The Butte and Valley Fires, both designated PCS®...
View Article5 Innovative Ways to Protect against a Soft Market
Unless it’s long enough (perish the thought!), there’s little you can do during a soft market to protect your company from it. The only reliable strategy reinsurers have at their disposal is to commit...
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October 2015 Preview: Historical Catastrophe Activity
As October approaches, we’re entering the end of the historical hurricane peak season. Although the season is ending, insurers should still be vigilant and prepared to assist policyholders in the event...
View ArticleCat Bond Lite: What’s Next?
In an interview with A.M. Best TV, Tom Johansmeyer, assistant vice president of Reinsurance Services, ISO, spoke about next steps in the insurance-linked securities (ILS) market. With regard to where...
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ILS Trend Tracking: Q3 2015
With the Rendez-Vous de Septembre behind us, the January 1, 2016, reinsurance renewal season has begun. The topics covered at the countless 30-minute meetings last month varied greatly, reflecting...
View ArticleThe view from Q4-cat frequency over severity, data housing, and more
In an interview with WRIN TV, Joe Louwagie, assistant vice president, Property Claim Services (PCS) discusses the importance of accessing and accurately using data to make the best underwriting and...
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November 2015 Preview: Historical Catastrophe Activity
On November 30, the 2015 hurricane season comes to an end. So far this year, only one catastrophe has been designated as a tropical event, Tropical Storm Bill, which impacted Texas and Oklahoma in...
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December 2015 Preview: Historical Catastrophe Activity Over Past Decade
The 2015 hurricane season ended November 30. This has been a relatively quiet season for the Atlantic Basin, with only one catastrophe, Tropical Storm Bill, declared in June for the states of Texas...
View ArticlePCS publishes new report on catastrophe claims planning and response management
Managing catastrophe claims operations requires coordination and planning, often on a massive scale. Property Claim Services® (PCS®) has published a new benchmarking study, PCS Personal Lines...
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Examining California’s Valley and Butte Fires: FireLine Identifies Affected...
The summer of 2015 was a season of wildfire devastation for Northern California. In September alone, two fires in Northern California—the Butte and Valley Fires—burned through nearly 147,000 acres and...
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January 2016 Preview: Historical Catastrophe Activity
Property Claim Services® (PCS®) has designated 15 catastrophes, 11 winter storms, and four wind and thunderstorm events during the month of January since 2006, resulting in $5.7 billion in insured...
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ILS Trend Tracking: FY 2015
FY 2015 Catastrophe Bond Lite Issuance by Trigger Type Source: PCS, Artemis Deal Directory After a grueling four-month-long march that began in Monte Carlo, the January 1, 2016, reinsurance renewal is...
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February 2016 Preview: Historical Catastrophe Activity
From 2005 through 2015, Property Claim Services® (PCS®) designated 29 catastrophes during the month of February, which included 27 weather-related events and two workers compensation events,...
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Working toward more resilient communities for 20 years
Mother Nature started 2016 with a bang in late January, dropping record and near-record snowfalls across the eastern seaboard. The snow was accompanied by wind gusts that reached 75 miles per hour and...
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March 2016 Preview: Historical Catastrophe Activity
During the month of March between 2006 and 2015, Property Claim Services® (PCS®) designated 28 weather-related catastrophe events. Those events caused approximately $12 billion in insured losses and...
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April 2016 Preview: Historical Catastrophe Activity
Between 1950 and 2013, the month of April saw more violent tornadoes—EF4 and EF5—than any other month. Over the past ten years, there have been 267 tornadoes on average in April in the United States....
View ArticleBlockchain, Smart Contracts, and Index Triggers: Count the Frictional Costs...
Is the insurance industry watching developments in blockchain technology? Some of our folks in the market are, but it’s pretty clear to me that the focus is the other way around. The blockchain...
View ArticleTop ILS Market Trends: Q1 2016
We’ve put another record-setting quarter for catastrophe bond issuance behind us, with $2 billion in fresh capital coming to market. In some ways, the first quarter of 2016 offered more of the same,...
View ArticleBlockchain, IoT, and Streamlined Claim Handling
At the Uniglobal Insurance Claims Management Conference, I heard a lot of doom and gloom about the future of claim handling—and the future of the insurance industry in general. New business models are...
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May 2016 Preview: Historical Catastrophe Activity
To the U.S. insurance industry, the month of May signals that hurricane season is right around the corner—with claims teams preparing for an unpredictable next few months. Significant catastrophe...
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