Quintairos, Prieto, Wood & Boyer P.A.

Triple-I Non-Resident Scholar Discusses ‘Finding The Sweet Spot’ In Disaster Protection

 Friday, February 3, 2023

 Triple-I Resilience Blog

Disaster insurance is more complicated than other types of property/casualty coverage, and traditional forms of risk transfer may not be sufficient on their own to effectively help policyholders bounce back from catastrophes in the long term, Triple-I non-resident scholar Carolyn Kousky said in an interview on the World Economic Forum Book Club Podcast.

‘Globally, a very large share of disaster losses, the economic costs of disasters, are not insured,’ said Kousky, associate vice president for economics and policy at the Environmental Defense Fund. ‘And that’s true even in countries with very well-developed insurance markets because disaster insurance is trickier than other lines of insurance.’

When a natural catastrophe strikes, lots of people are severely affected at the same time and huge numbers of claims must be processed all at once.

‘When everyone suffers a loss at the same time, that actually undermines a lot of the mathematical laws that underpin insurance,’ Kousky said.

The tools insurers use to make sure they have funds available to keep their promises to pay claims -- reinsurance, accessing the capital markets, and maintaining policyholder surplus -- are all expensive, Kousky said, and those costs get passed along to policyholders in the form of higher premiums.
CatastropheInsurance Industry

Scholar Promotes New Approach To Predicting Hurricane Damage

 Tuesday, April 19, 2022

 III Resilience Blog

Father, Friend Charged In Fatal Arson-Insurance Scheme

 Wednesday, August 8, 2018

 The Times-Tribune

The 10 Most Disaster-Prone States

 Wednesday, September 24, 2014

 Bloomberg Businessweek

Scott County Discusses Flood Mitigation Buyouts

 Friday, September 12, 2014

 Twin Cities

Recall: Plastic in Wegmans mashed sweet potatoes

 Monday, November 14, 2011

 Chicago Tribune

Pennsylvania Woman’s Lawsuit Claims Dunkin’ Brew is Too Sweet

 Wednesday, June 8, 2011

 Insurance Journal