Zala Insurtech News: Liberty Mutual Reinsurance, a division of Liberty Mutual Insurance Group, has formed an exclusive partnership with Safehub, a technology provider specialising in seismic sensor and risk management solutions. The post LM Re Partners with Safehub for Exclusive Earthquake (Re)Insurance Offering appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech
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Heading to #NewYork for the 2024 Builder’s Risk & Construction Symposium? Adjusteck's EVP of US Operations & Senior Executive General Adjuster, Brian Fell, will be there and would love to connect with you – reach out and let's discuss how we can assist with your next claim. #networking #insurance #loss #adjusting #claims #construction #underwriting
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𝐑𝐞𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐍𝐞𝐰𝐬! 🌪️📈 In the face of the most disrupted property reinsurance market since 1992, the industry is witnessing significant shifts. #ReinsuranceInnovation #RiskManagement 🔍 A key development is the emergence of modeled loss transactions (MLTs), offering enhanced reinsurance protection amid shrinking traditional capacities. 🔥🌊 Traditional models focused on major events like hurricanes and earthquakes but often missed smaller, more frequent losses from secondary perils like wildfires and winter storms. 🤝 This innovation is a crucial step in offering better protection and understanding of evolving risks. Let's embrace these changes for a more resilient future. #InsuranceTrends #CatastropheModeling Read more about this pivotal shift in the industry below:
"Hard Reinsurance Market Fuels Innovation in Risk Transfer"
carriermanagement.com
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Interesting read.
David Green, MBA, CIP, director of our construction division, explains the impact wildfires are having on construction timelines. Learn more by reading his expert insights, including recommendations for how contractors and developers can respond to this growing risk. #construction #wildfires #insurance #insurancebroker #thoughtleadership https://loom.ly/Hk_D1sk
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Senior Technical Consultant | LinkedIn Top Voice - Data Analytics | P&C Insurance - Catastrophe Risk Modeling - Allianz SE | Ex Infosys | Ex Arthur J Gallagher | Ex IBM
Net Loss in the context of Cat Modeling- "Net Loss" refers to the 'Amount of Loss that an Insurance company or Reinsurer retains after accounting for Reinsurance'. Here's a breakdown: #Key points - • Calculated after Reinsurance: Cat models simulate potential losses from natural catastrophes. However, insurance companies often transfer part of this risk to reinsurers through reinsurance treaties. The net loss is the "Residual loss" remaining after accounting for the reinsurance coverage. #Types: • Aggregate Net Loss: This represents the "Total net loss" across all insured perils and events simulated in the cat model for a specific period (e.g., a year). • Peril-specific Net Loss: This focuses on the Net Loss for a single peril, such as Windstorm or Earthquakes. #Uses: Understanding Net Loss helps Insurers and Reinsurers: • Assess Capital Adequacy: Ensure they have enough Reserves to cover potential losses. • Set Risk-based Premiums: Price policies based on their actual risk exposure. • Negotiate Reinsurance Terms: Negotiate optimal reinsurance coverage with other companies. . #insurance #propertyinsurance #reinsurance #AAL #catastrophe #catmodeling #learning #riskmanagement #riskanalysis #commercialinsurance #stats #statistics #datamodeling #analytics #dataanalytics #catastropherisk #CatRisk #Risk #RiskAnalyst #Loss #NetLoss #Finance #Lesson
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For Infrastructure businesses the cost of insurance is going up, and terms are changing too. Insurers usually do not insure losses resulting from war, terrorism and sabotage, but what about physical damage caused by cyberattacks? As Daniel Timms, head of asset management Australia and New Zealand at Igneo Infrastructure Partners points out, “Obviously, that has a cost, but that cost is a fraction of what the potential impact could be if we didn’t manage this risk appropriately.” Read the full article with Infrastructure Investor here: https://lnkd.in/dDvAGqge
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𝐑𝐞𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐍𝐞𝐰𝐬! 🌪️📈 In the face of the most disrupted property reinsurance market since 1992, the industry is witnessing significant shifts. #ReinsuranceInnovation #RiskManagement 🔍 A key development is the emergence of modeled loss transactions (MLTs), offering enhanced reinsurance protection amid shrinking traditional capacities. 🔥🌊 Traditional models focused on major events like hurricanes and earthquakes but often missed smaller, more frequent losses from secondary perils like wildfires and winter storms. 🤝 This innovation is a crucial step in offering better protection and understanding of evolving risks. Let's embrace these changes for a more resilient future. #InsuranceTrends #CatastropheModeling Read more about this pivotal shift in the industry below:
"Hard Reinsurance Market Fuels Innovation in Risk Transfer"
carriermanagement.com
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SageSure and SURE successfully closed the $250 million Gateway Re 2024-1 catastrophe bond at a 67 percent upsize. This brings total catastrophe bond issuances across SageSure's underwriting partners to more than $1 billion in only 24 months. Read more: https://lnkd.in/guT5Nud3 #insurance #business #innovation
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Just got off the phone with a client asking about what is going to happen with fire insurnace in the many beautiful interface communities that our clients and employees live in. David Green, MBA, CIP thoughts on the impacts to the construction industry are incredibly insightful. The personal insurance space is seeing many companies react and make decisions on where they wish to write business. My advice to any client or insurance professional is to become better informed. The free and short FireSmart™ Canada 101 course is a tremendous resource if you are a property owner or are in the business of insuring properties in BC https://lnkd.in/d6m3hzF2. Did I say it’s free
David Green, MBA, CIP, director of our construction division, explains the impact wildfires are having on construction timelines. Learn more by reading his expert insights, including recommendations for how contractors and developers can respond to this growing risk. #construction #wildfires #insurance #insurancebroker #thoughtleadership https://loom.ly/Hk_D1sk
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A must read for all those working in the construction industry! My colleague David Green, MBA, CIP, director of Acera Insurance’s construction division, explains how wildfires are affecting project timelines. Learn more. #construction #insurancebroker
David Green, MBA, CIP, director of our construction division, explains the impact wildfires are having on construction timelines. Learn more by reading his expert insights, including recommendations for how contractors and developers can respond to this growing risk. #construction #wildfires #insurance #insurancebroker #thoughtleadership https://loom.ly/Hk_D1sk
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In the face of continuing hard reinsurance markets, staying ahead means embracing the data evolution 📊. At Fosfor, we are excited to empower you on your journey from data to decisions, enhancing your risk acceptance and management capabilities. 🚀 Harness the power of curiosity in underwriting and transform challenges into opportunities. #underwriting #reinsurance #dataevolution #riskmanagement #insurance #insurewithdata #fosfor #FosforDecisionCloud #LTIMindtree #FutureFasterTogether https://lnkd.in/dcveS839
Hard reinsurance market not going away – AM Best
insurancebusinessmag.com
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