Hurricane Preparedness Week (May 15-21) has flown by. It’s a good time—especially for coastal residents—to think about how to prepare for a land-falling tropical storm or hurricane. For insurance carriers, the week is also a good time to prepare for and evaluate their exposure, since the majority of reinsurance catastrophe covers are up for renewal July 1. Now is the time to plan.
In an organization every functional area is expected to reduce operational costs and create programs that contribute to the bottom line. StoneRiver’s Joe Floss has created an article discussing how to Boost Your Bottom Line and Gain Insight into Your Payables. In the article he says that from a traditional operations perspective, much of the incremental efficiency gains have been captured in payment processing through automation efforts and increased use of ACH (Automated Clearing House) payments.
Re/insurance companies continue to benefit from a flow of new capital primarily driven by investments in insurance-linked securities (ILS), sidecars, hedge fund-backed reinsurance companies and collateralized reinsurance vehicles, chiefly by means of catastrophe bonds issuance.