Homeowners Insurance and Mitigation Assistance Act of 2008
Read about the RAA's support of this recently introduced legislation. RAA President Frank Nutter commented, "Lawmakers should focus their efforts on helping people who live in areas vulnerable to catastrophes protect their property. It is the best long-term solution."
posted August 5th, 2008
RAA Testifies on Need for Federal Role in Reinsurance Regulation
Read about Frank Nutter's testimony before the Senate Committee on Banking, Housing and Urban Affairs about the importance of a federal role in reinsurance regulation.
posted July 30th, 2008
OECD International Network on the Financial Management of Large-scale Catastrophes
Citing the "knock-on effect of disasters that grows beyond the direct economic and social impact of the countries affected," The Organisation for Economic Co-Operation and Development (OECD) has established the International Network on the Financial Management of Large-Scale Catastrophes. Frank Nutter is a member of the Network's high-level Advisory Board. Click here to read more.
posted July 17th, 2008
RAA Defeats NCOIL Federal Disaster Assistance Resolution
Florida State Senator Steven Geller failed to get the NCOIL Subcommittee on Natural Disaster Insurance Legislation to endorse his resolution to create a system for states to establish their own cat funds and receive interest-free 20-year loans into the fund from the federal government in the event of a mega-disaster that exceeds direct premiums written. Geller, a former President of NCOIL, blamed the RAA in particular for the defeat, although a number of other organizations, including the National Wildlife Federation, American Insurance Association and the Property Casualty Insurers Association of America also spoke out against it. Click here to read the BestWire article about the resolution's defeat.
posted July 14th, 2008
RAA Supports Amended Insurance Information Act Legislation
In advance of the July 9 mark-up of HR 5840 (the Insurance Information Act), the RAA endorsed amendments to the legislation that would authorize the Office of Insurance Information (OII) to ensure that State insurance measures are not inconsistent with international agreements relating to federal policy on international matters established by the OII. The RAA noted "it is critical that international policies are uniformly respected throughout the States by the preemption of any inconsistent State insurance measures. To do otherwise perpetuates the current patchwork system and undermines the ability of the U.S. to effectively participate in the international arena." Click here to read the RAA's letter to Representatives Kanjorski and Pryce.
posted July 10th, 2008
RAA Releases Data Publications
Reinsurance Underwriting Review: 2007 Industry Results provides industry aggregate data and summarizes underwriting experience, operating results, ceded reinsurance and recoverables, reserve development and leverage, and the invested assets of 34 reinsurance companies. Order
Offshore Reinsurance in the U.S. Market: 2007 Data provides statistics on U.S. premiums ceded to, and net recoverables from, more than 4700 reinsurers in 108 jurisdictions outside the U.S., ranks offshore jurisdictions with the largest participation in the U.S. market for both affiliated and unaffiliated reinsurance business, and provides historical market share trends of U.S. reinsurance companies versus offshore companies. Order
posted July 8th, 2008
RAA Launches NatCatUS.org
The RAA recently launched NatCatUS.org, a website dedicated to debunking myths about catastrophes and providing alternatives on how to prevent and pay for the devastation caused by catastrophes. Click here to navigate to the NatCatUS.org website.
posted July 8th, 2008
Insurance Trade Associations Back Storm Proofing Bill
A press release was jointly issued today by the American Insurance Association (AIA), the Association of Bermuda Insurers and Reinsurers (ABIR), the National Association of Mutual Insurance Companies (NAMIC), the Property Casualty Insurers Association of America (PCI), and the Reinsurance Association of America (RAA), supporting Representative Bennie Thompson's recently-introduced legislation to promote storm proofing of homes in disaster-prone areas as a means to protect lives and property from damages resulting from natural catastrophes. Click here to read the press release.
posted July 1st, 2008
RAA Reports 2007 Industry Underwriting Results
The Reinsurance Association of America (RAA) today issued a press release on the publication of its Reinsurance Underwriting Review (RUR) for 2007, which provides a financial review of U.S. reinsurers. Members of the press can contact Geneva Green at green@reinsurance.org for a complimentary copy of the RUR.
posted July 1st, 2008
London Cat Modelling Conference Draws Worldwide Audience
Over 100 attendees, from 12 countries and representing forty-seven companies, attended the RAA and the International Underwriting Association of London (IUA) Catastrophe Modelling Conference in London, held on 17-18 June 2008. The programme featured sessions on exposure management, political risk modelling, data standards, the EU loss index, increasing flood losses and the implications for flood models, the relevance and applicability of climate change science in cat modelling, the similarities and differences between European wind storm models, earthquake modelling and the comparison of analytical methods in insurance and capital markets. Click here for photos from London Cat.
posted June 26th, 2008
RAA Testifies on Insurance Information Act of 2008
Tracey Laws, Senior Vice President and General Counsel of the RAA, testified in support of the Insurance Information Act of 2008 before the House of Representatives Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises on Tuesday, June 10, 2008.
Click here to read her testimony and here to read the RAA's press release.
posted June 12th, 2008
[ Items from earlier this year ]
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Education
Registration is open for Reinsurance Claims Management, to be held September 17-18 in New York City. Click here for program details.
 
Advocacy
The Optional Federal Charter Coalition is a diverse group of special interests, including the RAA, who support an Optional Federal Charter. Learn more.
At its meeting on November 14, 2007, the RAA Board of Directors approved Guiding Principles for Natural Disaster Risk Financing. [+] Read the Guiding Principles.
RAA Supports Homeowners Assistance Legislation. [+] Read more.
Government Cat Funds: They're a bad idea for America's Insured. Read why.
Click here for a comparison between TRIPRA 2007 and the TRIEA program, which expired on December 31, 2007
Publications
We think you’ll like the improvements we’ve made to the RAA’s Online Reinsurance Caselaw Digest.
Quick Links
Reinsurance Glossary
Fundamentals of Reinsurance
ReArb.com
ScheduleF.com
ReinsuranceLaw.org (Digest of Reinsurance Caselaw)
SmartNatCat.org
NatCatUS.org
Optional Federal Charter Coalition
 = for RAA Members only
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