Swiss Re Adds $900 Million to Reserves

The video discusses the expected claims and reserves for 2021, highlighting challenges in estimating losses, especially in life and health sectors. It covers premium increases and risk management strategies in the reinsurance business, emphasizing the exclusion of infectious disease coverage. The impact of COVID-19 vaccine rollouts on the insurance industry is examined, noting reduced risks due to government involvement. Finally, the video addresses climate change's effects on insurance, focusing on secondary perils and the need for improved risk modeling.

What is the expected total loss for the property casualty businesses in 2021?

• Between $500 million and $1 billion

• Exactly $500 million

• Less than $500 million

• More than $1 billion

What was the percentage increase in nominal prices for the reinsurance business on January 1?

• 5 percent

• 6 percent

• 6.5 percent

• 7 percent

Which type of coverage has been excluded in almost all cases by the insurance industry?

• Infectious diseases

• Life insurance

• Automobile insurance

• Natural disasters

How does government sponsorship affect the industry risk related to COVID-19 vaccine rollouts?

• Increases the risk

• Has no effect

• Doubles the risk

• Reduces the risk

Which country is mentioned as being further along in the vaccine rollout?

• United Kingdom

• United States

• Germany

• Israel

What are secondary perils mentioned in the context of climate change?

• Floods and droughts

• Windstorms and wildfires

• Hurricanes and earthquakes

• Tornadoes and tsunamis

What is the insurance industry's role in addressing climate-related risks?

• Ignoring the risks

• Providing unlimited coverage

• Helping to understand and price risks

• Eliminating all risks