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Tail Tales, or Shifts in Market Price and Risk in a Volatile Year

October 14, 2011

By: Morton N. Lane, President

2011 has not been the worst loss year ever. Nor has it been the year with the biggest single loss. But it might be the one with the greatest variety of losses. Consider, between February and the end of the third quarter there have been losses from New Zealand earthquakes (two), a massive Japan earthquake and tsunami, a huge number of tornadic losses in Joplin, Tuscaloosa and throughout the Midwest, an earthquake in Virginia and a northeast hurricane (Irene). Through it all the ILS market shifted and adjusted in price. This short note is record of those shifts. However, the intent is more than just recording price shifts; we also hope to see how risk appetites also shift and change – or, conversely, how stable the risk appetite is.

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