This PowerPoint report, presented by Robert Hartwig, president of the Insurance Information Institute before the AonBenfield Catastrophe Summit, discusses the most important changes facing catastrophe financing as a result of the financial crisis. They include: capital that has become much more scarce; capital that has become more expensive; investment earnings that can offset only a smaller share of catastrophe losses; alternative sources of capital such as private equity money that have dried up; and others. The presentation also looks at the impact that the financial crisis and weakening global economy is having on the property/casualty (P/C) insurance industry in terms of capital and policyholders’ surplus, and other factors. An overview of and outlook for the P/C insurance industry are provided. The presentation notes that regulatory response to the financial crisis could be substantial and will likely affect all segments of the financial services industry.
The following presentation is called "Financing Catastrophe Losses Amid a Financial Catastrophe: A Growing Challenge". It was presented by Dr. Robert Hartwig on February 11, 2009.
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