ORIGINAL PUBLICATION HERE Lloyd’s has launched a new business interruption policy, which it believes is the “first of its kind” parametric solution designed to protect small and medium sized enterprises (SMEs) against IT disruption or downtime. The new policy pays out automatically once a company’s IT services – such as cloud, e-commerce or payment systems […]

ORIGINAL PUBLICATION HERE. ALSO REPUBLISHED BY INTELLIGENT INSURER ITSELF, UNDRR’S PREVENTION WEB NET, SEEKING ALPHA AND BELT & ROAD NEWS. Countries in Central Asia and Eastern Europe that have been recipients of Chinese investment via projects associated with its Belt and Road Initiative (BRI) should use parametric sovereign cat bonds to insure themselves against the risk […]

ORIGINAL PUBLICATION HERE As investments into China’s Belt and Road Initiative (BRI) increase, Kirill Savrassov, CEO of Phoenix CRetro Reinsurance Company, told Baden-Baden Today that it represents big opportunities and challenges for the reinsurance industry, especially from a cat perspective. He said the project, led by China and sometimes described as a multibillion dollar rebirth […]

ORIGINAL PUBLICATION HERE. PDF VERSION HERE China’s Belt and Road Initiative, the economic project which aims to recreate the ancient Silk Road that linked Europe to Asia, needs protecting. ILS could provide the perfect solution, as Kirill K. Savrassov, chief executive of Phoenix CRetro Reinsurance Company, tells Bermuda:Re+ILS. In September a 5.8 magnitude earthquake shook Istanbul, triggering the evacuation of schools […]

ORIGINAL PUBLICATION HERE Despite a multitude of other catastrophes in 2018, the single biggest loss event for reinsurers was so-called loss creep from 2017’s Hurricane Irma. Dirk Lohmann of Schroders examines what went wrong and what the industry must learn. If there were two words to describe an investor’s perception of one of the key […]

ORIGINAL PUBLICATION HERE Insurers working across the Commonwealth Independent States (CIS) of former Soviet Russia can expect to see further consolidation in their sector, according to the latest special report from AM Best. The report said mergers and acquisitions (M&As) have been driven in part by companies trying to gain the “critical mass” they need […]

ORIGINAL PUBLICATION HERE The re/insurance industry holds high expectations for blockchain technology as an opportunity to increase efficiency of insurance processes, and the future is beginning to take shape with the launch of new platforms and products. Intelligent Insurer reports. Blockchain, also dubbed distributed ledger technology, is the technology behind digital currencies such as Bitcoin […]

ORIGINAL PUBLICATION HERE The risk transfer industry understands that more could be done to close the protection gap, and more risk pools linked to governments could help solve this problem, argues Laurent Montador of French reinsurer CCR, which is backed by the French government. Re/insurance pools, whether governmental or private market-driven, are usually created involving […]

ORIGINAL PUBLICATION HERE The protection gap in Europe remains large in many countries—but this is where growth can be generated for reinsurers as governments look to solve this challenge, as Claudia Cordioli of Swiss Re tells Baden-Baden Today. There is plenty of growth opportunity in Europe for the re/insurance sector as certain governments are warming […]

ORIGINAL PUBLICATION HERE. НА РУССКОМ ЗДЕСЬ Parametric cat bonds can help the countries of South Eastern Europe, Central Asia, Caucasus, The Commonwealth of Independent States as well as Turkey (ECIS) cope with the protection gap in natural catastrophe risk, Kirill Savrassov, CEO of Phoenix CRetro, a niche Bermudian ILS specialist, told Baden-Baden Today. “With low […]