Come Rain or Shine

Contributor: Thomas Heintz, Chief Underwriter Agriculture, PartnerRe; Sabine Pistor, Specialty Lines Pricing Actuary, PartnerRe
Date: 12/1/2007
Digging into just one aspect of the field of hail pricing, we present the results of a study into the use of ‘risk coefficients’ – ratios that reflect the relative vulnerabilities of crop types to hail – asking, what are their advantages and, given these, why the inconsistent global application and values?
Tags: Non-specific, Agriculture

Preparing for Higher Limits

Contributor: Emmanuel Becache, Senior P&C Underwriter, PartnerRe; Lea Nefussi, P&C Underwriter, PartnerRe.
Date: 10/1/2007
The current minimum statutory Motor insurance limits in the EU were set in 1984 by the 2nd EU Motor Insurance Directive (84/5/CEE). In the meantime, claims inflation and the wide range of minimum limits adopted in EU countries, have prompted a revision of the minimum limits, as outlined in the 5th EU Motor Insurance Directive (2005/14/CE). The extent to which the 5th Directive impacts a specific insurance market will depend on the current limits offered in that market: ranging from no or little impact in countries that offer unlimited coverage for bodily injury, to potentially significant impact in countries that have remained with the former minimum limits. For example, the minimum limit for combined bodily injury and property damage per event will be multiplied ten-fold, from € 600,000 to € 6 million for countries that choose the second option of the directive.
Tags: Europe, Motor, Regulation, Agriculture