Outcome of our review
The review has improved our understanding of how insurers are prudently managing their catastrophe exposures, and allowed us to monitor changes since the 2016 review.
The results from our review indicate there are areas of weakness in 11 of the 28 insurers surveyed.
The other 17 insurers that we surveyed appear to be assessing their catastrophe risks appropriately for their own particular circumstances. However, this does not prevent them from making further improvements to their assessment processes.
We intend to provide targeted feedback to all 28 insurers surveyed and also help them improve how they assess catastrophe risk exposure where necessary.