We may be in the midst of US hurricane season, but international catastrophe losses can emerge at any moment.
And frequently over the past couple of years, surprise losses have been driven by secondary perils: with Canada, Europe, Dubai and New Caledonia all among the zones of interest this year.
Hiscox Re & ILS’s Head of International Nick Orton rebuts the idea that international cat underwriters are not pricing for these secondary perils – but says that remaining on top of these evolving risks is a key challenge.