The second quarter is off to a great start, with more than $3 billion in catastrophe bonds announced or completed so far. And as the insurance and reinsurance industry prepares for hurricane season, the momentum should continue. Yet issuance volume is only part of what has made the catastrophe bond market interesting this year. A [...]
Property
The March 2013 CoreLogic National Foreclosure Report stated that more than 1 million homes are in some stage of foreclosure. Here are a few more March 2013 foreclosure insights: Completed foreclosures rose from 52,000 in February 2013 to 55,000 in March, an increase of 6 percent. The five states with the largest number of completed [...]
The 2013 wildfire season in the western United States is looking to be a difficult one, fueled by a combination of factors, including a drier-than-normal preceding winter, generally drier vegetative fuels, and warmer current conditions. In addition, projections of higher temperatures and lower-than-normal precipitation this summer raise the prospects of what could become an intense [...]
According to Artemis, Aon Benfield has forecast $4 billion in catastrophe bond issuance activity by the end of June. If that happens, 2013 will have become the most active first half in the history of the market. So far, 2007’s first half boasts the largest issuance, with more than $3.7 billion, thanks in large part [...]
ISO implemented several changes to the claim reporting function: Scheduled property indicator — The fraud-fighting enhancement indicates if lost or stolen personal property is scheduled (specifically insured under an inland marine endorsement) or unscheduled. The new indicator will provide adjusters and SIU important information, such as patterns of multiple scheduled property losses or the reporting [...]
Several months into the new year, indicators continue to point to an improving housing market. However, a recent national survey discovered that more than 300,000 abandoned — or “zombie” —properties exist nationwide, according to an article on BusinessInsider.com. And that number may go up sharply over the coming months, presenting a challenge not only to [...]
