Catastrophes Insurance Market Which are Natural and Man-Made are Playing A Significant Role in Building The Insurance Market
Synopsis
Timetric’s ‘Insight Report: Insuring Against Natural and Man-Made Catastrophe’ analyzes the market for natural and man-made catastrophe insurance, in the midst of increasing frequency and severity of catastrophic incidents.
The catastrophe insurance market is more prevalent in developed countries, as most of the insured loss emanates from developed regions, particularly the US. This is due to a higher rate of catastrophe insurance penetration into these markets compared to developing regions. Higher property values and greater accumulation of insured assets in areas exposed to catastrophes, contribute to substantial insured loss in developed regions. However, the most economic loss due to natural catastrophes emanates from developing economies due to underinsurance of catastrophe risk. Part of this is due to relatively immature nature of insurance markets in developing markets, meaning lack of catastrophe insurance availability.
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Multilateral institutions, such as the World Bank, are playing a significant role in building the market for catastrophe insurance in developing economies, which tend to lack the expertise to understand and insure complex risks attached to natural and man-made catastrophes. Multilateral institutions can empower governments and insurers to offer catastrophe insurance by providing both capital and expertise.
The report also discusses in detail the efforts made by insurers and governments to fill the insurance ‘gap’ between economic and insured losses, signifying global opportunities for the insurance industry. Insurers, government and multilateral organizations are making a concerted effort to confront challenges in the catastrophe insurance market through a process of product innovation and deployment of new technologies.
Summary
Timetric’s ‘Insight Report: Insuring Against Natural and Man-Made Catastrophes’ provides detailed analysis of insuring natural and man-made catastrophes. It provides:
Insights into the key market trends in natural and man-made catastrophe insurance.
Analysis of the causes behind high economic and insured losses, and the rising insurance gap in catastrophe insurance market.
An overview of the nature of natural and man-made risk. It focuses on man-made catastrophes such as cyber risk and terrorist attacks.
Detailed understanding of catastrophe bonds as an alternative platform to transfer risk to the capital market.
Scope
Timetric’s ‘Insight Report: Insuring Against Natural and Man-Made Catastrophes’ provides detailed analysis of insuring natural and man-made catastrophes. It provides:
Insights into the key market trends in natural and man-made catastrophe insurance.
Analysis of the causes behind high economic and insured losses, and the rising insurance gap in catastrophe insurance market.
An overview of the nature of natural and man-made risk. It focuses on man-made catastrophes such as cyber risk and terrorist attacks.
Detailed understanding of catastrophe bonds as an alternative platform to transfer risk to the capital market.
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Reasons To Buy
Timetric’s ‘Insight Report: Insuring Against Natural and Man-Made Catastrophes’ provides detailed analysis of insuring natural and man-made catastrophes. It provides:
Insights into the key market trends in natural and man-made catastrophe insurance.
Analysis of the causes behind high economic and insured losses, and the rising insurance gap in catastrophe insurance market.
An overview of the nature of natural and man-made risk. It focuses on man-made catastrophes such as cyber risk and terrorist attacks.
Detailed understanding of catastrophe bonds as an alternative platform to transfer risk to the capital market.
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