Reinsurance Association of America Releases 2010 Catastrophe Loss Development Study
The Reinsurance Association of America (RAA) has just released the 2010 Catastrophe Loss Development Study, a unique reinsurance excess of loss study that provides an unparalleled look at aggregated reinsurer loss development from extreme events, on both a paid and incurred basis. Leading U.S. reinsurers contribute paid, reported, and IBNR data to this study, which analyzes losses by type of reinsurance, including facultative, treaty pro rata, treaty risk excess, treaty catastrophe excess and finite/financial/aggregate stop loss.
The 2010 Study includes three new events—Hurricanes Ike and Gustav and the Chilean Earthquake of 2010—in addition to the loss experience from 20 other major earthquakes, hurricanes, firestorms, wind and hail events and man-made catastrophes in the U.S. dating back to 1989. The World Trade Center event is included and broken out by line of business, including property, aviation, liability, workers’ comp, and incidental life (personal accident and accidental death and dismemberment).
An electronic file containing the quarterly loss development factors for these events is provided to buyers of the Study.