New York — Guy Carpenter & Company LLC, a risk and reinsurance specialist, published “2008 Catastrophe Update,” a briefing about the catastrophe reinsurance marketplace in 2008. The briefing, available on Guy Carpenter’s new intellectual capital Web site, states that the high frequency and severity of Atlantic hurricanes in 2008, coupled with other weather-related and man-made losses, placed the year among the costliest on record for insured catastrophe losses.
“The record-setting Atlantic hurricane season—especially Ike and Gustav—is the big story and the primary driver of insured losses in 2008,” says Chris Klein, global head of business intelligence, Guy Carpenter. “At the same time, one should not overlook the role that other events, such as the China earthquake, California wildfires and man-made catastrophes, played in making this an especially active year.”
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