Reinsurance

Admittedly, my interest in blockchain has been fairly narrow. Given the role of PCS® in the global industry loss warranty (ILW) market, I’ve been particularly focused on how blockchain-enabled smart contracts could benefit the reinsurance and insurance-linked securities (ILS) market.

During a track at the IFoA Asia Conference 2018 last week, a speaker laid out a “future state” vision that included access to insurance-linked securities (ILS)—or at least some version of ILS—for retail investors.

The National Hurricane Center says a named storm forms in the Atlantic Basin in June once every other year.

It’s midwinter in the Northern Hemisphere, and we’re looking ahead to February with a review of historical catastrophe activity.

Here are the ways this blockchain technology can benefit the global insurance industry.

The global insurance industry has taken an interest in blockchain because of certain fundamental benefits that the technology provides.

With winter on its way, we look ahead to January cat event risks. Catastrophic January storms since 2007 have caused nearly $5.9 billion in insured losses.

The 2016 hurricane season ended November 30 with two PCS® catastrophe designations from Atlantic Basin hurricanes that made landfall in the United States.

The 2016 hurricane season will come to an end on November 30. So far this year, two catastrophes have been designated as tropical events.

As October approaches, so does the end of peak hurricane season, however, insurers should still be vigilant.

While forecasters have predicted a relatively normal hurricane season for this year, there have been five named storms in the Atlantic thus far.

Unfortunately, 2016 has been an active year for terror.

The most active years for August catastrophe events were 2007, 2008, and 2013 with four catastrophe storm designations.

Taking a look at significant weather activity in 2016 to date, we saw a rare January hurricane, Alex, as well as Tropical Storm Bonnie in May.