Rethinking catastrophe protection as secondary perils drive annual losses

Are ‘secondary perils’ really secondary anymore?

Flood, hail, subsidence and wildfire have accounted for 58% of total insured losses in Europe over the past decade. Yet many of these events fall below traditional reinsurance attachment points, leaving insurers exposed to accumulating losses.

“The ability to model how those events can accumulate within a year is important to managing risk appetite and mitigating their impact.”

In a recent interview with Intelligent Insurer’s Baden-Baden Today, Tim Edwards, Managing Director, Head of International Analytics at Howden Re, discusses the growing impact of secondary perils and how improved analytics can help insurers better understand loss accumulation.

He also explores how current market conditions offer opportunities to secure more tailored reinsurance protection, better aligned with insurers’ underlying risk exposures.