CONTENTS
36 CREDIT RATINGS FOR CAT BONDS: ARE THEY WORTH THE COST AND EFFORT?
Pete Vloedman, chief executive of Anchor Risk Advisors, analyses how recent downgrades of numerous cat bonds may be contributing to a reduction in non-specialised investor interest.
40 THE IMPACT OF RMS V11 ON ILS RMS’s new US wind model triggered downgrades to many cat
bonds. Peter Nakada, managing director of RMS Risk Markets, examines the logic behind this and how investors have reacted.
44 CLIMATE CHANGE: THUNDERSTORM RISK As the frequency and severity of US thunderstorms get worse,
Dr Peter S Dailey and Dr Ioana Dima from AIR Worldwide examine the causes and consequences of these phenomena.
47 ALLOCATION OF CLAIM PAYMENTS AND THE FOLLOW THE FORTUNES DOCTRINE
Robert W. DiUbaldo, senior associate at Edwards Wildman Palmer LLP, explains how two recent cases could affect how cedants allocate claim payments to their reinsurers post settlement.
50 FAC TO BASICS: FACULTATIVE REINSURANCE TRENDS IN 2011
The high number of natural catastrophes experienced in the fi rst half of the year threw the spotlight on facultative business as never before. Gary Lille and Misbah Kamal of United Insurance Brokers examine the implications of this and the trends this line of business is experiencing around the world.
52 TREASURE ISLAND Intelligent Insurer looks back at the growth of Bermuda as a
reinsurance hub.
30 36 44 47
6 | INTELLIGENT INSURER | November 2011
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