In an era of mega-ports and ultra-large container ships, re/insurers are highly exposed to risk accumulation
during a catastrophe, said Aon in a statement.
The vulnerability of residents in Ibadan to different risks, its drivers and what risks should be prioritised forms the trust if a study tagged 'Urban African Risk Knowledge' aimed at breaking cycles of risk accumulation
in Sub Saharan Africa.
The company uses a combination of proportional and non-proportional coverage to mitigate exposure to high frequency and high severity risk, while constantly monitoring its PML and risk accumulation
. Large catastrophic risk such as earthquakes is limited to a priority of USD5 million, and is reserved as a catastrophic provision.
It said that the new model would provide key technical support for seismic catastrophe re-insurance pricing, risk identification, business portfolio optimisation, and risk accumulation
Several insurers are hesitant to expand their cyber insurance portfolios due to the rapidly shifting nature of cyberrisks, lack of historical loss data, uncertainty around risk accumulation
processes and nascent cyber reinsurance/retrocession markets.
This is something everyone can learn from and use to help make their homes more resistant to the effects of the dramatic weather events," says Munich Re, US Head of Risk Accumulation
and past IBHS Chairman Carl Hedde.
Insurance industry leaders are poised to instigate a far-reaching initiative to overhaul risk accumulation
and exposure reporting in the fast-expanding casualty sector.
"It is an economic imperative to invest in mitigating the effects of greenhouse gases to slow the pace of climate change and achieve a long-term reduction in the economic impact from adaptation costs and losses," said Carl Hedde, head of risk accumulation
for Munich Re America.
However, what remains to be seen is if a prolonged deep freeze due to the Polar Vortex causes any pipe freezing, either for commercial or personal risks, and what losses may occur from those events, notes Carl Hedde, head of risk accumulation
, Munich Reinsurance America Inc.
The overall risk accumulation
is combined with the tendency for cellular repair mechanisms to be less effective as a person grows older.