Standard & Poor's is changing its criteria for measuring catastrophe risk for primary insurers.
The new criteria will be based on exposure, rather than premium charges, as has traditionally been the case. The new criteria will incorporate a probable maximum loss figure that is both company-specific and based on net exposures as opposed to gross figures.
The new criteria capital charge is also expected to be an aggregate probable maximum loss as opposed to an occurrence probable maximum loss. Specific details of the new criteria for primary insurers will be published no later than June 2006.
S&P is not planning to revise its criteria for reinsurers — these were last updated in mid-2005.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
