Gary Kerney

Gary Kerney

Gary Kerney, one of the most prolific contributors to this blog, retired from Verisk in 2013. Mr. Kerney served as assistant vice president, Property Claim Services (PCS). Since joining PCS in 1981, he worked on catastrophe identification, loss estimating, and catastrophe response and mitigation.


    Posts by Gary Kerney

    Are You Writing Canadian ILWs?

    Cedents have used the PCS® Catastrophe Loss Index heavily in industry loss warranty (ILW) exposure to U.S. natural catastrophe risk. The PCS index likely accounts for more than half the market. This straightforward index makes it faster and easier to transfer risk, and it’s among the most reliable tools in the ILW community. A similar […]

    The Rise of the Private Catastrophe Bond

    The Artemis Deal Directory added its second private catastrophe bond of the year. Sunshine Re is a $20 million transaction, sponsored by Florida Municipal Insurance Trust. It follows Skyline Re, a $61.2 million deal sponsored by The Cincinnati Insurance Company. And not listed in the directory because of insufficient information, RenaissanceRe reportedly completed a private […]

    Five New ILS Market Developments

    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 […]

    ILW Triggers and Peril Misalignment [VIDEO]

    The official start of hurricane season is only a few weeks away. As you prepare for the June 1, 2013, reinsurance renewal, don’t forget about your industry loss warranty (ILW) cover — and how you can make it more effective. In several ILW agreements, Property Claim Services® (PCS®) has found that the perils do not […]

    How to Develop Targeted ILW Triggers [VIDEO]

    Superstorm Sandy caused unprecedented auto losses for a tropical storm, with Property Claim Services® (PCS®) estimated claim counts topping 200,000. With the start of hurricane season less than a month away, it’s time to think about how you can mitigate such risk more effectively. Watch this video to learn how you can use auto loss […]

    When Will We See a $50 Billion ILS Issuance Year?

    Issuance of insurance-linked securities is growing rapidly. A recent Artemis report put the total outstanding at more than $40 billion. At $5.9 billion, last year was the second most active for catastrophe bond issuance. And third-party capital has become a greater force in the reinsurance industry. So what happens next? To find out, join me […]