However, Fitch recognizes that in most cases, the key driver of a rating for a catastrophe
bond when applying the ILS Criteria is based on the probability of loss exceedance as computed by catastrophic modelling experts.
Combining the latest research with detailed coverage of state-of-the-art catastrophe
modeling techniques and technologies, "Natural Catastrophe
Risk Management and Modelling" delivers the knowledge needed to use, interpret, and build catastrophe
models, and provides greater insight into catastrophe
modelling's enormous potential and possible limitations.
Many policies today are still underwritten using hazard-based assessments of catastrophe
This year, they took a look at hundreds of thousands of storm claims from 2004 and 2005 from multiple companies and came up with a number of different findings," said Jim Coyle, senior vice president of catastrophe
planning for Travelers.
To fulfill such intentions would mean perhaps an even greater geopolitical catastrophe
Trading volume for these contracts was anemic during their two years of existence, which has been attributed to several factors, including: (1) insurers/reinsurers' preference for option spreads (a long call position combined with a short call position with a higher exercise price) as opposed to futures contracts because option spreads have payoffs similar to catastrophe
reinsurance contracts (Cummins and Geman 1994; 1995); (2) the lack of historical data on the underlying indices (D'Arcy and France 1992); and (3) the basis risk associated with broad geographical indices.
The ISO Index is the dollar loss on $25,000 of catastrophe
premium income from a typical pool of catastrophe
policies from around the nation.
People are looking for catastrophe
cover in just about every area of the world.
In recent years, markets for catastrophe
reinsurance and primary insurance have experienced episodes of sharp price increases and/or limits on available coverage following major catastrophe
The new company took over where Montpelier left off, offering renewals to Montpelier's property catastrophe