With the rising cost of natural catastrophes around the world, public private solutions could provide a model for the future. Dr Simon Young explains how the Caribbean Catastrophe Risk Insurance Facility has set a precedent.
It’s time for change in the global reinsurance industry, argues Dr Kai-Uwe Schanz. Globalisation, deregulation, consolidation and new risk transfer options are challenging the industry’s traditional way of doing business.
The industry’s confidence in catastrophe models was tested in 2005 after Hurricane Katrina defied loss expectations. In our latest survey, Global Reinsurance asked readers how they feel about the models now. Helen Yates presents the results.
The hype over cat bonds has been sustained by three years of dramatic growth. But can the good times last? Charles Thresh and Jonathon Lane consider the threat of the credit crunch to this burgeoning asset class.