The Los Angeles, California wildfires are a tail event for the peril and will demonstrate the continued and growing relevance of reinsurance, according to RenaissanceRe CEO Kevin O’Donnell, who also explained today that “most of our US property catastrophe programs are loss impacted.”The RenaissanceRe CEO further states that with the scale of the loss impact … Read more
Moody’s RMS Event Response said insured losses for the January 2025 Los Angeles fires will likely fall in the $20 billion to $30 billion range. The Jan. 17 estimate from Moody’s RMS came a day after CoreLogic put out a statement indicating a $35 to $45 billion range of insured losses for two major fires … Read more
The success of Lynch’s next film, Blue Velvet, helped assuage his disappointment, as did his move to television with the bizarrely surreal and influential series Twin Peaks—part detective story, part soap opera, with dashes of sci-fi and horror. The series spawned a spin-off prequel movie, Twin Peaks: Fire Walk With Me (1992), and a 2017 … Read more
Artemis has learned that FEMA has increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, raising the figure to $6.75 billion and as a result two FloodSmart Re catastrophe bond tranches have had their maturity dates extended, with partial repayments of principal to be made.The U.S. Federal Emergency Management Agency’s (FEMA) … Read more
How the Court of Justice of the European Union provides further teeth to the Habitats Directive On 14 November 2024, the Court of Justice of the European Union (CJEU) found Germany in breach of the Habitats Directive (HD) due to a failure to prohibit agricultural activities that drove biodiversity loss in protected (Natura 2000) sites. … Read more
