Insurers are taking on more risk than they should. If – or when – a major disaster hits, the catastrophe will have far-reaching consequences, says an anonymous modeller and whistleblower
This article makes no mention of reinsurance, the insurance insurance companies buy from reinsurance companies. Basically they’ll take out reinsurance policies from companies like Loyds of London to cover them in case there’s a catastrophe, such as a hurricane destroying an entire city, so they can still pay out the claims.
Seems a little odd it isn’t mentioned in this article.
This article makes no mention of reinsurance, the insurance insurance companies buy from reinsurance companies. Basically they’ll take out reinsurance policies from companies like Loyds of London to cover them in case there’s a catastrophe, such as a hurricane destroying an entire city, so they can still pay out the claims.
Seems a little odd it isn’t mentioned in this article.