(Para Español – Aqui) In October 2015, a powerful Saffir-Simpson Category 5 tropical cyclone made landfall on the Pacific coast of Mexico, about 200 km south of Puerto Vallarta. That was hurricane Patricia, which caused an estimated USD 350 Million in uninsured damages, mainly to infrastructure, housing, and farms. Insured losses were even less, due … Read more
Over the past five years, North American oil and gas operators have increasingly implemented technology and best practices to improve their environmental credentials. Environmental responsibility is no longer a political decision – it’s business. For example, differentiated gas with credentials attached to specific molecules has been sold for a premium to downstream buyers. Other industries, … Read more
The (re)insurance industry has a long history of working on society’s hardest problems because today’s top-of-mind issues are yesterday’s risk management questions. This early involvement allows (re)insurers to go beyond simply doing their part and diversifying risk – they can lead the way to new solutions and innovations by incentivizing businesses and entire industries to … Read more
In late 1992, in the aftermath of Hurricane Andrew a sinking realization entered into the property insurance market…we didn’t know where our exposures were!…nor had any clue about what we knew about those exposures…even if we had known where they were located!!! (No story quite captures this realization than Michael Lewis’ In Nature’s Casino New … Read more
“cogito, ergo sum” – Rene Descartes Parametric insurance products are not new. They have been around for decades (and in some forms probably centuries). Insurance professionals have struggled to adopt to parametric solutions for our clients because they do not neatly fit into the indemnity paradigm we insurance professionals were trained into. Our entire training … Read more