The new era in catastrophe claims: a reinsurer's perspective

Article Abstract:

The claims processing departments of primary claims companies and reinsurers successfully faced the challenges thrown them by the string of catastrophes during the first three months of 1994. The period, which saw a deluge of 1.14 million claims, showed reinsurers the expertise of their clients' catastrophe staffs in handling claims adjustments. Only small, regional property and liability insurers incurred the high costs associated with outsourcing to outside adjusters and consultants.

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Catastrophe modeling simulations to assess risk

Article Abstract:

Insurance and reinsurance firms have traditionally relied on methods such as mapping of property value and geographic underwriting zones to calculate the projected losses. However, due to such devastating calamities such as Hurricane Andrew in 1992, the industry was forced to devise newer and more accurate methods to assess catastrophe risks. The use of software programs and computers allow more precise modelling of particular disasters such as hurricanes, floods, or earthquakes.

INSURANCE CARRIERS, Surety insurance, Management, Software, Economic aspects, Insurance industry, Hurricane Andrew, 1992

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Sorry boss - the cycle did it!

Article Abstract:

The relationship between primary property and casualty insurance providers and reinsurers will most likely continue to 'support the smoothing of the insurance cycle.' The latter, which used to follow a boom-or-bust pattern, currently lies flat due to differences in market reactions between reinsurers and primary carriers, changes in the ways primary insurers conduct business, globalization, and the impact of catastrophes on the marketplace.

Industry Overview, Analysis, Property and casualty insurance industry

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