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Major Gulf Coast Energy Infrastructure Shutdown Due To Tropical Storm Harvey

Tropical Storm Harvey made landfall in Louisiana early on Wednesday after hammering Texas¸ threatening more infrastructure in the heart of the U.S. oil and natural gas industry. The U.S. National Hurricane Center said Harvey came ashore just west of Cameron¸ Louisiana¸ and was expected to weaken to a tropical …

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Fast-acting parametric insurance for ‘quakes and windstorms launched

Zurich-based CelsiusPro has launched a parametric natural catastrophe insurance product for earthquakes and tropical cyclones, which provides emergency cash within days of the disaster. CelsiusPro has previously offered protection through weather index derivatives. Parametric insurance solutions are based on …

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Hurricane Harvey loss estimates suggest only Katrina may cost US more

Economic loss estimates for Hurricane Harvey continue to mount, with latest figures from RMS placing the cost as high as $90bn. This would make Hurricane Harvey the second most expensive storm in US history, second only to Hurricane Katrina. Risk modelling and analytics firm RMS has estimated economic losses …

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Argo’s Watson calls for action on ‘unsustainable’ competition in London

The international insurance and reinsurance market needs to take responsibility for the “unsustainable” competition in London and other international specialty markets, to deliver long-term solutions for customers rather than continue to churn out “well-worn” products at the cheapest possible price, according …