Claude Penland: Actuary & Partner, Ezra Penland Actuarial Recruitment

http://www.prnewswire.com/news-releases/damage-from-irene-could-cost-us-up-to-7bn-according-to-aon-benfield-catastrophe-study-129451288.html

Mind the Three P’s When Planning Hurricane Safety

Disrupter analysis can help assess the risks of future catastrophic events.

Swiss Re, in collaboration with Aon Benfield Securities and The National Register of Warranted Builders (NRWB), has created a risk management product.

The Toolkit offers a new building valuation capability that helps reinsurers to identify potential valuation issues with particular lines of business, regions, or portfolios, and to understand the risk associated with under and over-valuation of properties. The Toolkit gives reinsurers insight into the data quality of a single submission or across one or more risk portfolios.

Over the past 20 years, the annual economic loss from Chinese natural hazards has reached nearly 200 billion RMB. Most recently, major events have included snow storm and the Wenchuan earthquake in 2008, the drought in north, northeast and southwest China in 2009, and the 2010 Yushu earthquake.

Aon Benfield’s catastrophe modelling centre, Impact Forecasting, says July saw an increase in global tropic cyclone activity ahead of the Atlantic hurricane season reaching its peak.

The California Earthquake Authority said it has sold the first earthquake-only catastrophe bond issued.

The new model covers Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.

Munich Reinsurance Co. has obtained $150 million in catastrophe bond protection from European windstorms.