Weathering the Storm: Innovative solutions to provide insurance cover for severe convective storms (SCS)

In recent years, the accumulation of insured losses from SCS (severe convective storms—usually tornadoes and hail) has been the single biggest loss driver in the insurance industry worldwide—larger than hurricanes. The frequency and severity of SCS continue to increase. Yet the insurance solutions available to manage the risks from these events are inadequate for many US insurance carriers. Failure to address this major source of risk can lead to financial problems such as reduced earnings and surpluses, and impact an insurer's AM Best ratings. Matthew Grant will be talking to industry leaders to discuss the challenges of understanding SCS and the risk transfer options available from both conventional reinsurance sources and the innovative and new solution being offered by Demex. This new and unique reinsurance offerings bring top reinsurance capacity back into the market to help manage the accumulation of losses from these much more frequent events. Demex is founded and staffed by weather risk experts, with prior experience from companies including Citadel, Enron, Munich Re, Nephila, and other major players. Demex’s only focus is SCS and providing a high-performance reinsurance solution to insurance carriers. It has the support of the major reinsurance brokers and top reinsurance capacity providers. Demex has spent the past 2 years developing this solution and has multiple clients at risk today. Continuing Professional Development This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.