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March 5, 2013

  Top Story 
  • Study: Insurance-linked securities grow as an alternative investment
    About $35 billion of reinsurers' alternative capacity is coming from the insurance-linked securities market, a Conning study found. "Investors are attracted to these non-correlated diversifying investments and the historical returns the asset class has delivered. Reinsurers, meanwhile, have recognized that this market is here to stay and are extending their business models to establish relationships with ILS funds and develop their own internal capabilities," Conning's Steve Webersen says. Insurance Networking News (3/4) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Report: Low losses, high capacity prevent energy-sector rate hikes
    Strong capacity and last year's low number of losses are preventing increases in energy insurance prices, although underwriting and expanding risks should be prompting higher rates, a Marsh report says. The trend may not be favorable for commercial insurers but is "good news for energy-insurance buyers looking for a more stable environment," the report says. PropertyCasualty360 (3/4) LinkedInFacebookTwitterEmail this Story
  Catastrophic Risk 
  • Obama selects nominees to lead EPA, Energy Department
    President Barack Obama has nominated Gina McCarthy to lead the Environmental Protection Agency and Ernest Moniz as secretary of the Department of Energy. "They're going to be making sure that we're investing in American energy, that we're doing everything that we can to combat the threat of climate change," Obama said. USA Today (3/4) LinkedInFacebookTwitterEmail this Story
  • Modeling can help insurers that deal with wildfire risk, expert says
    Property/casualty insurers should take steps to assess the growing risk from wildfires, said Lamont Norman of Pitney Bowes. "We found that when we include fire behavior modeling and actual fire science, the wildfire risk is something that can be very easily and readily understood and managed by the insurance industry," Norman says. (3/4) LinkedInFacebookTwitterEmail this Story
  • Some N.J. flood victims want a government buyout
    About 200 homeowners in Sayreville, N.J., want a government buyout of their homes, which have been hit repeatedly by flooding, but they have expressed doubts about whether that will happen after Hurricane Sandy. Buyouts can be an effective way to reduce exposure in flood-prone areas, said Daniel Van Abs of Rutgers University. "You wind up paying far more than the actual value of the property to constantly recover from getting another storm, and so it makes sense economically to remove those buildings from damage," Van Abs says. Courier-Post (Camden-Cherry Hill, N.J.) (3/4) LinkedInFacebookTwitterEmail this Story
  • Other News
  Policy and Law 
  • FSOC moves toward potential "SIFI" designations, official says
    The Financial Stability Oversight Council's evaluation of nonbank financial firms that may be designated as systemically important is in its last phases, said Mary Miller, Treasury undersecretary for domestic finance. The council may reach its decisions "in the next few months" as it is exercising caution in the assessments, Miller said. PropertyCasualty360 (3/4) LinkedInFacebookTwitterEmail this Story
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--Alexander Graham Bell,
Scottish-born American inventor

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