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If the Noughties was the decade of hurricanes, terrorism and financial meltdown, what will the next 10 years bring? RISKbitz asked a number of industry insiders for their predictions.
Ian Pinocchio, head of research analytics at Mega Re believes hurricanes are history. "According to our fir cone models a persistent El Ninny effect means that the weather in Florida and the Gulf of Mexico will be dominated by warm breezes and light showers from now on," Pinocchio said. "So we're expanding our catXL book big time in all peak zones while rates are still reasonably high."
Meanwhile political risk experts are forecasting peace and harmony around the world with extreme Islamist militants rejecting direct action. "I confidently expect terror fatigue to set in among al Quada followers. Plus they have to run out of suicide bombers sometime, don't they?" said Simon Flakvest of Alpha Mayle Brokers. more...
So how was the Noughties for you? Rebore Magazine presents a comprehensive 247 page colour supplement detailing this most dramatic and epoch-making decade in the history of the re/insurance industry. We shall be detailing, in explicit detail, all the details detailing this quite extraordinary decade which was so unique and yet at the same time, exactly like all the others.
Catastrophe rates went up, then down again, then creeped up, before sliding down and then inching up before finally coming down and edging up a bit. Aviation rates flew high then lost altitude, space rockets went sky high, and then re-entered at a lower level, motor rates were driven higher before the brakes were put on, marine rates sailed up and were driven back by stormy weather, liability rates er..er..um…(apologies for the loss of service as we appear to have run out of metaphors). And throughout this decade, claims were made at regular intervals.
more...
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