5) London Market passes $200bn stress test
Hiscox has published a white paper looking into the London Market's response to a theoretical stress test involving the costliest losses in history.
The dry run scenario included an unprecedented cyber event, a highly destructive hurricane, one of the largest ever stock market declines and a major reinsurer default with consequent delays in reinsurance payments.
These simulated events resulted in extraordinary global insurance losses
Read the latest issue of Insurance Age here
- Insurance industry welcomes Ogden rate reform
- Pen Underwriting makes 11 redundant at Chelmsford office
- Lloyd’s slumps to £2bn loss for 2017
- Broker Network buys Knighthood Corporate Assurance Services
- Claimant lawyers hit out at government’s discount rate reform
- Discount rate reform unveiled by the government
- Trade credit insurer pay-outs at highest level since 2009