A lack of Atlantic Hurricane storm activity, with no major US hurricanes making landfall to trouble re/insurance markets since Hurricane Beryl, which made landfall in Southeast Texas on July 8.
‘We believe this is the future of global corporate (re)insurance,’ says managing director.
‘We equip carriers with deeper insights into the cyber risk in their books,’ says head
As climate change and shifts in land use drive an increase in flood events, Rupert Bidwell, ICEYE’s vice president, insurance solutions, explains how satellite data can help insurers size the impact of the event, manage capital and set reserves much more quickly and effectively.
The insurance industry historically could have done much better at diversity, inclusion, and reflecting the global markets it serves. Mark Lomas, head of culture at Lloyd’s, is working to correct that.
MGA Intangic is in its second year, backed by AXA XL, and provides a pre-emptive approach to underwriting cyber risks.
‘It’s not an existential moment for the industry, but it does highlight that primary markets will question whether they’re getting value for money or sufficient coverage,’ says AM Best’s managing director for analytics.