A.M. BestTV: European Natural Catastrophe Schemes Vary by Nation

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July 11, 2016 11:06 AM EDT

OLDWICK, N.J.--(BUSINESS WIRE)-- In this A.M.BestTV episode, Charlotte Vigier, A.M. Best senior financial analyst, examines how European countries are developing strategies and structures aimed at reducing the impact of natural catastrophes. Click on http://www.ambest.com/v.asp?v=uknatcatt716 to view the entire program.

This issue is explored in a recent Best Special Report, titled, “Future Proofing: The Value of Natural Catastrophe Schemes in Europe.”

“There are many reasons why a country may or may not have a natural catastrophe scheme. The actual exposure and penetration rate of insurance in a country are just two,” said Vigier.

Vigier explained what A.M. Best views as key characteristics of an effective natural catastrophe scheme.

“There is an opinion that a natural catastrophe scheme can have a crucial role as a risk-transfer instrument. It can have a soothing effect on the overall results of an industry on its technical results and can even improve the risk profile of a country,” said Vigier.

“Long-established and successful schemes have some characteristics in common, like strong cooperation between the private and the public sectors. Additionally, successful natural catastrophe schemes rely on a mature insurance market with a high penetration rate of insurance. There are also a number of incentives that make sure the risk of adverse selection is minimized, and there is a structured framework, which means that the system is financially viable on a long-term basis.”

Recent episodes of A.M.BestTV include:

  • Brexit Fallout Expected To Persist: Catherine Thomas, A.M. Best senior director-analytics, discusses how the post-Brexit financial market volatility leaves the United Kingdom, and in particular, European life insurers, more vulnerable: http://www.ambest.com/v.asp?v=brexit716.
  • Some Caribbean Insurance Markets Feeling Economic Pain More Than Others: A.M. Best Senior Economist Meg Mulry and Senior Financial Analyst Ricardo Longchallon discuss the insurance markets of the Caribbean region, saying that although each market is at a different stage of development, all continue to grow despite recent fiscal and economic imbalances: http://www.ambest.com/v.asp?v=caribbean716.
  • Program Business Heads for Growth: A panel of insurers and producers discuss the current state of the program and specialty sectors, including emerging opportunities, changing relationships between carriers and producers and how insurance entrepreneurs are creating new distribution channels: http://www.ambest.com/v.asp?v=programmarkets716.
  • Middle East and North Africa Insurers Tested by Falling Oil Prices, Political Instability: A.M. Best Senior Financial Analyst Myles Gould examines the relationship between fluctuating oil prices, regional political instability and the business environment for insurers operating in the Middle East and North Africa (MENA) regions: http://www.ambest.com/v.asp?v=menaoil716.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

A.M. Best
Lee McDonald, +1-908-439-2200, ext. 5561
Group Vice President, Publication and News Services
[email protected]

Source: A.M. Best


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